How Do You Receive GEL (Georgian Lari) Payments in India in 2026?
- Author:
- Manoj Sharma
- Verified by:
- Editorial team
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Short answer
You can receive GEL in India through local GEL account details with a Georgian IBAN, a SWIFT wire to your Indian bank, a card or online checkout, or a remittance app. On GEL 5,000, Stripe pays the most of the platforms with full published pricing for GEL: about ₹1,69,236 on 3 Nov 2026.
| Method | Cost | Speed | FIRA |
|---|---|---|---|
| Local GEL account details | The client pays its own bank's charge, if any, for a domestic lari transfer. The account provider charges a conversion or payout fee when it sends INR to your Indian bank. | The client's transfer settles inside Georgia through the National Bank of Georgia settlement system. The onward INR payout time depends on the provider. | Ask the provider whether the INR credit comes with a bank-issued inward remittance advice or certificate showing the purpose code. |
| SWIFT wire to an Indian bank | The client's bank, any intermediary bank and your Indian bank can each deduct a charge. The OUR, SHA or BEN charge option the client picks decides who bears them. | Depends on the correspondent bank chain. An RBI circular dated 9 April 2026, effective six months from that date, asks banks to endeavour to credit inward payments received during forex market hours on the same business day. | Your AD bank issues an inward remittance advice or certificate, usually on request or through net banking. |
| Card or online checkout | A percentage of each payment set by the payment aggregator, plus a conversion cost when the card payment is settled in INR. | Paid out in batches after card clearing. RBI caps each cross-border aggregator transaction at ₹25 lakh. | A cross-border payment aggregator must give your AD bank the documents needed to close export entries. |
| Remittance app | A transfer fee set by the app and usually paid by the sender, plus conversion. | Often quick for small amounts, within per-transfer limits set by the app. | Many remittance apps are built for personal transfers. Confirm the receipt can carry an export purpose code before using one for client payments. |
Who this is for: This page is for Indian freelancers, agencies and registered exporters who invoice clients in Georgian lari and want to know how those payments reach an Indian bank account.
At the mid-market rate
₹1,82,828
Highest payout: Stripe
₹1,69,236
- 1.Stripe₹1,69,236cost 7.43%
1 GEL = 36.57 INR, ExchangeRate-API open access feed rate for 3 Nov 2026. Payout = amount minus fees, converted at the reference rate minus each platform's markup, minus 18% GST on fees where charged. Platforms without published pricing are left out.
What are the ways to receive GEL in India?
| Method | Fees | Markup | Settlement | FIRA | Best for |
|---|---|---|---|---|---|
| Local GEL account details | The client pays its own bank's charge, if any, for a domestic lari transfer. The account provider charges a conversion or payout fee when it sends INR to your Indian bank. | Set by the provider. Compare the INR amount you receive with the mid-market GEL to INR rate on the same day. | The client's transfer settles inside Georgia through the National Bank of Georgia settlement system. The onward INR payout time depends on the provider. | Ask the provider whether the INR credit comes with a bank-issued inward remittance advice or certificate showing the purpose code. | Regular invoices to clients who pay from a bank account in Georgia, where a provider offers GEL collection |
| SWIFT wire to an Indian bank | The client's bank, any intermediary bank and your Indian bank can each deduct a charge. The OUR, SHA or BEN charge option the client picks decides who bears them. | Your AD bank converts at its own buying rate. Ask whether your bank quotes a lari rate at all; if it does not, ask the client to wire US dollars or euros instead. | Depends on the correspondent bank chain. An RBI circular dated 9 April 2026, effective six months from that date, asks banks to endeavour to credit inward payments received during forex market hours on the same business day. | Your AD bank issues an inward remittance advice or certificate, usually on request or through net banking. | Large invoices, advance payments and clients whose finance teams pay foreign suppliers only by wire |
| Card or online checkout | A percentage of each payment set by the payment aggregator, plus a conversion cost when the card payment is settled in INR. | Built into the settlement rate the aggregator or its AD bank applies. | Paid out in batches after card clearing. RBI caps each cross-border aggregator transaction at ₹25 lakh. | A cross-border payment aggregator must give your AD bank the documents needed to close export entries. | Small one-off payments, online sales and individual clients in Georgia who prefer to pay by card |
| Remittance app | A transfer fee set by the app and usually paid by the sender, plus conversion. | Built into the rate the sender sees when booking the transfer. | Often quick for small amounts, within per-transfer limits set by the app. | Many remittance apps are built for personal transfers. Confirm the receipt can carry an export purpose code before using one for client payments. | Occasional small payments from individual clients |
Which countries pay in GEL and what rails do they use?
| Country | Rail | Client enters | Speed | Best for |
|---|---|---|---|---|
| Georgia (domestic transfer) | A domestic lari transfer through the NBG settlement system to local GEL account details held with a provider in Georgia | Your name and a Georgian IBAN, which is [22 characters starting with GE](https://nbg.gov.ge/en/page/iban-international-bank-account-number) | Settles inside Georgia on the NBG system's operating schedule; the INR payout time depends on the provider | Georgian clients who prefer to pay a local account in lari |
| Georgia (international wire) | A SWIFT wire from a Georgian bank to your Indian bank, in GEL, US dollars or euros, depending on what both banks handle | Your name, Indian account number, your bank's SWIFT code and address, the charge option and the invoice reference | Depends on the correspondent bank chain and the cut-off times of each bank | Larger invoices and Georgian companies that pay foreign suppliers by wire |
| Other countries (client holds a GEL account) | SWIFT wire in lari to your Indian bank or to GEL account details, where both banks handle the currency | Your name, account number or IBAN, the receiving bank's SWIFT code and the invoice reference | Depends on the bank chain and whether the banks handle GEL | Clients outside Georgia who keep lari balances |
Which platforms are best for receiving GEL in India?
The table ranks platforms with full published pricing for GEL by the INR received on GEL 5,000, then lists other business platforms that accept GEL, unranked. Fees were checked on 30 Sept 2026 or later.
| Platform | Best for | FX markup | Fee | FIRA | Settlement | RBI status | INR on GEL 5,000 |
|---|---|---|---|---|---|---|---|
| Stripe | Registered Indian businesses selling online to card-paying foreign customers | 2% if converted; Stripe says rate is generally mid-market | 4.3% intl cards; 3% Visa/Mastercard, 3.5% Amex; + 2% if converted | Standard Chartered payment advice; FIRC cost not confirmed | Daily INR payouts; card funds after five business days | Not confirmed | ₹1,69,236 |
| Cashfree Payments | Registered Indian businesses wanting card checkout and bank transfer collection | Collections states no forex markup; card FX charge unpublished | Collections on request (2023: 1% to 1.5%); cards 2.99% + GST | e-FIRA in 1 day free; FAQ: e-FIRS T+1 on request | Cards T+2; collections within 7 days, typical time not confirmed | RBI authorised PA and PA-CB inward and outward | Not published for GEL |
| Tazapay | Indian businesses collecting B2B or e-commerce payments from many countries | Not published; rate shown before you confirm | Collection fee by contract; cards 3.8% + USD 0.5; + other fees | USD 4 FIRC fee; NOC for AD1 bank FIRA | Weekly default; local same day to T+1, SWIFT to T+5 | Not confirmed on RBI PA-CB list; cites Rupee Drawing Arrangement | Not published for GEL |
What is the real GEL to INR rate you receive?
The real GEL to INR rate is the mid-market rate, the midpoint between buying and selling prices. Bank TT buying rates, card rates and platform rates sit below it, and the gap is a cost to you. For example, at an example mid-market rate of ₹37 per lari, receiving ₹36.40 per lari on GEL 2,000 costs ₹1,200.
Today's rate, its history and every platform's payout are on the GEL to INR rate page.
How much INR do you receive on GEL 2,000, 5,000 and 10,000?
Each row applies the platform's published fee, FX markup and 18% GST on the fee to the mid-market rate of ₹36.57 per GEL for 3 Nov 2026.
| Platform and invoice | At mid-market | INR received | Cost | Best for |
|---|---|---|---|---|
| Stripe, GEL 2,000 | ₹73,131 | ₹67,694 | 7.43% | Registered Indian businesses selling online to card-paying foreign customers |
| Stripe, GEL 5,000 | ₹1,82,828 | ₹1,69,236 | 7.43% | Registered Indian businesses selling online to card-paying foreign customers |
| Stripe, GEL 10,000 | ₹3,65,655 | ₹3,38,472 | 7.43% | Registered Indian businesses selling online to card-paying foreign customers |
Can you hold GEL in India?
You can hold GEL in India only if your AD bank offers an EEFC account in lari, so check with your bank. Any person resident in India can open an EEFC account under FEMA 10(R). Where lari balances are not offered, ask the client to pay in US dollars or euros, which banks hold more widely.
- Credits: Up to 100 percent of foreign exchange earnings received through the banking channel can go in, and card receipts reimbursed in foreign exchange count as banking channel receipts under Schedule I of FEMA 10(R).
- Conversion: The Master Direction on Deposits and Accounts says a calendar month's accruals should be converted to rupees by the end of the next month, after adjusting for approved uses or forward commitments. Check how your AD bank applies this.
- Interest: The EEFC account is non-interest bearing, and banks may not lend against the balance, as set out in the Master Direction.
- Currency: Banks choose which currencies they hold in EEFC accounts. Ask your AD bank whether it keeps GEL balances or converts lari into US dollars or another currency on receipt.
When should you convert GEL to INR?
- Spot: Convert lari at the rate on the day they arrive. It is simple, and you accept whatever rate the market gives that day. The National Bank of Georgia runs a floating exchange rate regime for the lari, so that rate can move between invoice and payment.
- Forward contract: Fix a rate today for a future date. RBI's hedging directions let AD banks offer forwards to retail users to hedge exchange rate risk. Ask your bank whether it quotes GEL forwards, or invoice in US dollars or euros and hedge that currency. See forward contracts for exporters.
- Limit order: Ask your bank or provider to convert automatically when GEL to INR reaches a rate you set. Availability for lari and minimum amounts vary, so confirm before relying on it.
- Natural hedge: Pay lari costs, such as travel or local services in Georgia, from GEL balances where your bank holds them, so part of your income is never converted. Payments outside India for permitted current account transactions are allowed debits under FEMA 10(R).
What documents and compliance apply to GEL receipts?
Receiving GEL for exports in India follows the same FEMA rules as any other currency. From 1 October 2026, service exporters file an EDF within 30 days of the end of the invoice month and realise proceeds within nine months under the FEMA 2026 Regulations. Your AD bank reports each receipt with a purpose code.
- EDF: Regulation 3(2) of the FEMA (Export and Import of Goods and Services) Regulations, 2026 requires an EDF for services, and one EDF can cover a month's invoices. A.P. (DIR Series) Circular No. 20 supersedes the SOFTEX circulars from 1 October 2026. See the EDF guide.
- Realisation: Export proceeds must be realised within nine months of the invoice date for services, or twelve months if invoiced or settled in INR, as amended on 22 September 2026. Your AD bank can extend this on request.
- EDPMS: Invoices up to ₹10 lakh can be closed in EDPMS on your declaration of realisation, under Regulation 4(2) of the 2026 Regulations.
- Purpose code: Banks report receipts under FETERS using RBI's purpose code list. The code depends on the service provided, and the currency does not change it. FIRA is not a term defined in FEMA; banks issue an inward remittance advice or certificate. See what FIRA means.
- GST: Payment in convertible foreign exchange is one condition of export of services under IGST Act section 2(6). A Letter of Undertaking under Rule 96A lets you export without paying IGST. Keep the bank's inward remittance record for each GEL receipt.
How did we verify this?
Rules and rails are linked to official sources below with the dates they were checked. Platform figures come from each platform's own pages, checked on 30 Sept 2026 or later, and RBI authorisation was checked against RBI's published list. Rates are ExchangeRate-API open access feed, dated 3 Nov 2026. The method is on the methodology page.
- Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2026, Notification No. FEMA 23(R)/2026-RB, Reg 1(2) in force 1 Oct 2026; Reg 3(2) EDF for services within 30 days from end of invoice month, single EDF per month; Reg 4(2) EDPMS closure up to Rs 10 lakh on declaration; Reg 5 nine months, twelve if invoiced/settled in INR, AD may extend (checked 8 Oct 2026)
- Foreign Exchange Management (Export and Import of Goods and Services) (Amendment) Regulations, 2026, Notification No. FEMA 23(R)/(1)/2026-RB (22 September 2026), Regulation 5(1): 'nine months' substituted for 'fifteen months'; 'twelve months' substituted for 'eighteen months' in the first proviso; in force 1 October 2026 (checked 8 Oct 2026)
- RBI A.P. (DIR Series) Circular No. 20, RBI/2025-26/194: Export and Import of Goods and Services (16 January 2026), Master Directions and circulars in Annex (including SOFTEX circulars) superseded from 1 October 2026 (checked 8 Oct 2026)
- Foreign Exchange Management (Foreign Currency Accounts by a person resident in India) Regulations, 2015, Notification No. FEMA 10(R)/2015-RB, Regulation 4(A); Schedule I: EEFC credits, card receipts as banking channel, permitted debits (checked 8 Oct 2026)
- RBI Master Direction - Deposits and Accounts, Para 3.1: EEFC non-interest bearing; monthly accruals converted by end of succeeding month after approved uses or forward commitments; no credit facilities against balances (checked 8 Oct 2026)
- Foreign Exchange Management (Manner of Receipt and Payment) Regulations, 2023, Notification No. FEMA 14(R)/2023-RB, Regulation 3(1)(I)(a)(iii): countries other than member countries of ACU, in Indian Rupees or in any foreign currency (checked 8 Oct 2026)
- RBI Master Direction on Regulation of Payment Aggregator (PA), Para 11(d) maximum Rs 25 lakh per transaction for PA-CB; para 11(h) documents for EDPMS closure (checked 8 Oct 2026)
- RBI circular: Guidelines to facilitate faster cross-border inward payments, RBI/2026-27/08 (9 April 2026), Para 3: banks shall endeavour to credit inward payments received during forex market hours within the same business day; para 4: effective six months from the date of the circular (9 April 2026) (checked 8 Oct 2026)
- RBI A.P. (DIR Series) Circular No. 84: Compilation of R-Returns, reporting under FETERS (29 February 2012), Purpose code list; P0802 Software consultancy/implementation (other than those covered in SOFTEX form); P0807 Off site software exports (checked 8 Oct 2026)
- RBI A.P. (DIR Series) Circular No. 13, RBI/2023-24/108: Risk Management and Inter-Bank Dealings, Hedging of foreign exchange risk (5 January 2024), Annex I: retail users may be offered foreign exchange forwards to hedge exposure to exchange rate risk (checked 8 Oct 2026)
- Integrated Goods and Services Tax Act, 2017, section 2 (CBIC tax information portal), Section 2(6)(iv): payment received in convertible foreign exchange or in Indian rupees wherever permitted by RBI (checked 8 Oct 2026)
- Central Goods and Services Tax Rules, 2017, Rule 96A (CBIC tax information portal), Rule 96A(1): bond or Letter of Undertaking in FORM GST RFD-11 for export without payment of integrated tax (checked 8 Oct 2026)
- National Bank of Georgia: RTGS System, System participants: NBG, Treasury Service, commercial banks, microbanks; since the 11 May 2026 upgrade, non-bank payment service providers may become participants if they meet eligibility requirements (checked 8 Oct 2026)
- National Bank of Georgia: IBAN - International Bank Account Number, Georgian IBAN: 22 characters, GE, two check digits, two-letter bank code, 16-digit account identifier (checked 8 Oct 2026)
- National Bank of Georgia: Optimal Exchange Rate Policy, NBG has a floating exchange rate regime; the rate is determined by market demand and supply (checked 8 Oct 2026)
- National Bank of Georgia: Official exchange rates, Official rate valid from 7 October 2026: 100 INR = 2.6990 GEL (about INR 37.05 per GEL), basis for the example rate (checked 8 Oct 2026)
- Stripe India pricing, International cards with USD/other currency presentment 4.3% + 2% if currency conversion is required; Mastercard and Visa cards issued outside India 3% + 2%; American Express outside India 3.5% + 2%; dispute received INR 1,000.00 (checked 7 Oct 2026)
- Cashfree Docs: Global Collections overview (checked 6 Oct 2026)
- Tazapay Pricing, Global Collection Accounts: *Contact sales; Global Cards 3.8% + USD 0.5; APMs 0.8%-2.5%; FIRC (India) USD 4; Custom tier: Volume-Based Discounts, Payment Method-Specific Rates, Customized FX (checked 7 Oct 2026)
Frequently asked questions
Can an Indian bank account receive a domestic GEL transfer from Georgia directly?
No. The NBG settlement system connects the NBG, the Treasury, commercial banks, microbanks and eligible non-bank payment service providers inside Georgia, and Indian bank accounts sit outside it. A Georgian client either pays local GEL account details held with a provider in Georgia, which then pays you in India, or sends a SWIFT wire to your Indian bank.
What details does a Georgian client need to send GEL to India by SWIFT wire?
The client needs your name as it appears on the bank account, your account number, your Indian bank's SWIFT code and branch address, and an invoice reference. Ask your AD bank first whether it accepts lari wires. Ask the client to choose the OUR charge option so the client pays the sending and intermediary charges.
Do Indian banks quote a GEL to INR exchange rate?
Practice varies by bank, and the lari is not among the widely traded currencies in India. Ask your AD bank whether it buys GEL and at what rate before you invoice in lari. If it does not, a GEL wire may be converted through US dollars, which adds a second margin, so a dollar or euro invoice can work better.
How long can a GEL export invoice stay unpaid under FEMA rules?
Under the FEMA 2026 Regulations, proceeds of a services export invoiced in GEL must be realised within nine months of the invoice date. Invoices raised or settled in INR get twelve months. Your AD bank can extend the period if you give reasons for the delay and it accepts them.
Can an Indian exporter invoice a Georgian client in GEL under FEMA?
Yes. Georgia is not an Asian Clearing Union member, so the Manner of Receipt and Payment Regulations allow receipt in Indian rupees or in any foreign currency. Invoicing in GEL leaves you with lari currency risk. Invoicing in INR moves that risk to the client and gives you twelve months to realise payment.
Where can an exporter check the official GEL to INR rate?
The National Bank of Georgia publishes official exchange rates each day, including the Indian rupee quoted per 100 INR. For rates valid from 7 October 2026 it set 2.6990 GEL per 100 INR, about ₹37 per lari. Banks and providers apply their own rates, so compare the rupees actually credited.
Can a freelancer keep Georgian lari earnings in an EEFC account?
Only if the bank offers lari balances. FEMA 10(R) allows any person resident in India to open an EEFC account and lists professional earnings such as consultancy fees as eligible credits. Ask your AD bank whether it opens EEFC accounts for individuals and whether it holds GEL, since both differ by bank.
Which purpose code applies to GEL receipts for software development work?
The purpose code follows the service, so the currency does not change it. Software development is usually reported under P0802, which RBI describes as Software consultancy/implementation (other than those covered in SOFTEX form), or P0807, Off site software exports. See P0802 vs P0807 and confirm the code with your AD bank.