What Is the RBI Purpose Codes List for Exporters and Freelancers?

The RBI purpose codes list gives every foreign exchange transaction a code that describes its purpose. AD banks report these codes to RBI under FETERS, as set out in A.P. (DIR Series) Circular No. 84 of February 29, 2012. Exporters and freelancers need the list because the code they choose appears on the inward remittance record for each receipt.

• Reporting: AD banks report purpose, country, currency and other details of foreign exchange transactions to RBI, mainly to compile India's balance of payments statistics, as the RBI guidelines explain.
• Prefix: Receipt codes begin with P and payment codes begin with S in the same RBI list. Exporters use the P codes.
• Groups: Codes are arranged in numbered groups. For example, group 01 covers exports of goods, group 08 covers telecommunication, computer and information services, and group 10 covers other business services.
• Your choice: The exporter or freelancer states the purpose when the payment arrives. The bank or payment provider records the code you choose, so the invoice wording matters.
• Current law: Regulation 18(2) of the 2026 Export and Import Regulations keeps FETERS reporting in place from October 01, 2026.

The list is a classification tool and does not change how a payment is taxed. Read the exact description of a code before choosing it, and use the RBI purpose code explainer for background.

Most exporters and freelancers use codes from groups 01, 08, 09, 10 and 11 of the RBI list. Goods exporters use group 01, software and IT workers use group 08, content licensing sits in group 09, professional services sit in group 10 and media and education sit in group 11.

Choose the code whose official description matches what the foreign client pays for. Start from the invoice, find the group that fits, read the exact wording of each candidate code and select the closest match. Ask your AD bank when two descriptions both seem to fit.

1. Write down what the invoice charges for, in the same words the contract uses.
2. Find the group in the RBI list that matches the type of work: goods, software, licensing, business services or media.
3. Read the exact official description of each candidate code in that group.
4. Check the nearby codes in the same group, because sibling codes often differ by one detail such as crew or the type of advice.
5. Select the closest code on your bank or payment provider's form and note the invoice number.
6. Check the code on the inward remittance record, and ask for a correction if it differs from what you chose.

The table below quotes the official wording from the RBI purpose code list for the receipt codes most relevant to exporters and freelancers. It is a selection, not the full list. The PDF also holds codes for transport, travel, insurance, financial services, investment and transfers. Codes with a page on this site link to it.

A wrong code misreports the nature of the receipt in the data the AD bank sends to RBI. It can also cause mismatches between the remittance record, the invoice and the GST records. The impact depends on the case, so ask the bank how it treats a correction.

• Reporting: The receipt is classified under the wrong head in balance of payments data.
• Records: The remittance record may show a purpose that does not match the invoice, which can raise questions from the bank or a tax officer.
• Goods or services: A goods code on a service payment, or the reverse, can confuse export documentation and EDPMS matching. Check with your AD bank.
• Delays: The bank may hold or query the credit until the purpose is clear.

Contact your AD bank or payment provider as soon as you spot the error, supply the invoice and contract, and ask for the code to be corrected on its records and on the remittance certificate.

The purpose code list comes from RBI's FETERS circular of 2012. The 2026 export regulations continue FETERS reporting. A.P. (DIR Series) Circular No. 20 replaced the earlier export Master Direction from October 01, 2026.

• Old list: Using a code from an outdated list or article. The current source is the RBI purpose code list. A different RBI file at rbi.org.in/upload/notification/pdfs/ has been withdrawn.
• Wrong prefix: Selecting an S code, which is a payment code, for a receipt. Receipts use codes beginning with P.
• Title guessing: Choosing a code from its number or a nickname instead of reading its description. Codes such as P1003 and P1004 are not the consulting codes some older pages suggest.
• Catch-all code: Using P1099 (Other services not included elsewhere) by default when a specific code exists.
• Goods and services: Mixing group 01 goods codes with services. Match the code to what the invoice sells.
• Not reviewing: Never checking the code on the remittance record after the payment is credited.

Every rule, deadline and form on this page is linked to its official source, checked on the dates below.

1. RBI: Guidelines for Submission of Data, Foreign Exchange Transactions Electronic Reporting System (FETERS), purpose code list, Annex I purpose codes, receipts (P codes), Groups 01, 08, 09, 10 and 11 (checked 9 Oct 2026)
2. RBI A.P. (DIR Series) Circular No. 84 dated February 29, 2012: Compilation of R-Returns, Reporting under FETERS, Paragraph 3: AD banks to report all foreign exchange transactions as per the revised purpose code list from April 2012 (checked 9 Oct 2026)
3. RBI Notification No. FEMA 23(R)/2026-RB: Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2026, Regulation 3(2) (EDF for services) and 18(2) (FETERS reporting) (checked 9 Oct 2026)
4. RBI A.P. (DIR Series) Circular No. 20 dated January 16, 2026: Export and Import of Goods and Services, Annex A: Master Direction on Export of Goods and Services superseded from October 01, 2026 (checked 9 Oct 2026)