FOREX – SERVICE
CHARGES
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PARTICULARS |
NEW RATES W.E.F. 1ST JULY 2006 |
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1.
Export Bills
purchased/ Negotiated/discounted a.
Processing
Charges for each foreign currency export bill. |
Commission For bills
upto USD 5000 - Rs.600 For bills
over USD 5000 – Rs.1200/- |
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b. Processing charges for each rupee export
bill |
0.30 %
Minimum Rs.600/- per Bill |
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c. For forwarding export documents
on which no collection, commission or
exchange accrues to the bank (i.e from one bank to the other in India) |
0.30 % Minimum Rs.1000/- |
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d.
Reimbursement charges under Letter of Credit |
per
reimbursement - Up to USD
5000 – Rs.600/- - Over USD
5000 upto USD1,00,000– Rs.1,200/- - Above
USD.1,00,000 Rs. 1500/- |
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e. Forwarding export documents to
another bank for negotiation to whom L/C is restricted by the bank which has
booked the forward contract |
0.30%
minimum Rs.1000/- |
@In respect of
transactions other than US Dollars, the ceiling in amount would mean equivalent
of the amount in USD.
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f. For joining customer’s guarantees
and giving guarantees on behalf of customers in respect of discrepant
documents. |
0.20 %;
Minimum Rs.1000/- |
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g. Overdue export bills purchased/negotiated/
discounted where proceeds are not received in Nostro Account on or before the
due date |
Rs.600/- per
quarter or part thereof |
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h.
Charges for discrepancies in export documents under LC. |
USD 25 |
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1.
Collection
of Bills a.
(Both
foreign currency and Rupee export bills) 1)Equivalent
of upto Rs.50,000 2)Equivalent
of above Rs.50,000 but upto Rs.2,00,000 3)Equivalent
of above Rs.2,00,000/- |
Uniform rate of 0.15% ; Minimum
Rs.600/- Maximum Rs.25,000/- |
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b. Overdue
export bills sent for collection where proceeds are not received within 6
months * |
Rs. 700/-
per quarter or part thereof |
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c. For each
complete set of export documents sent by the exporter directly to overseas
buyer with the approval of RBI, while disposing of the relative GR forms |
Rs.700/- per
bill. This charge is in addition to the commission recovered while crediting
the proceeds of advance payment to customers’ account |
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d.
Additional charge where proceeds of bills are received through a bank other
than the collecting bank at the instance of exporter/overseas buyer. |
0.15%; Min Rs.600/- |
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3.Certificates Issuance of
certificates/attestation in respect of export transactions. |
Rs.120/- per certificate |
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4.
Registration of export contracts |
Rs.700/-
flat per registration Rs.400/-
flat per amendment |
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5. Processing fee for advance against
Govt. sponsored incentive scheme |
0.50%; Min.
Rs.500/- Maximum
Rs.25,000/- |
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6. Export Letter of Credit a. Advising
letter of credit (recording, scrutinising, authenticating, verification). |
Rs.1,500/-
flat per L/C |
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b) Advising
amendments |
Rs.600/- flat per amendment |
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CONFIRMATION
CHARGES
1. Commitment charge : II. Usance Charge : |
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0.175% for
every quarter or part thereof 0.175% for bills upto 10 days’ sight 0.35% for bills upto 10 days’ and upto
3 months’ sight 0.35% for the first 3 months plus
0.090% for every month in excess of three months, for bills over 3 months
sight LC up to Rs.5 cores -Normal charge Above Rs.5 crores up to Rs. 10 crores – upto Rs. 5 crores usual rate; amount
in excess of Rs. 5 crores50% of normal rate Above Rs. 10
crores – upto Rs 5
crores normal rate; Amount in excess of Rs 5 crores upto Rs. 10 crores 50% of
normal rate; amount in excess of Rs. 10 crores 25% of normal rate. Min Rs.600/- for all customers plus
processing fee for adding confirmation Rs.1500/-. |
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d. Transfer
of letter of credit |
Rs.700/-
flat for each advice of transfer |
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e.
Acceptance commission for accepting usance drafts to be drawn on and accepted
by banks in India |
0.1750 % per
quarter and part thereof Minimum Rs.1500/- |
II . IMPORT RELATED TRANSACTIONS
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1. Commission for
establishing Letter of Credit a.
Commitment charge b.
Usance charge |
0.15% for every quarter or part
thereof LCs upto Rs.5 crores 0.175% for bills upto 10 days’ sight. 0.35% for bills upto 10 days’ and
upto 3 months’ sight 0.35% for the first 3 months plus
0.0900% for every month in excess of three months, for bills over 3 months
sight LCs above Rs.5 crores &
upto Rs.10 Crores -
Upto Rs.5 crore – normal rate -
For amount in excess of Rs.5
crores – 50% of normal rate. LCs above Rs.10 crores -
Upto Rs.5 crores – normal rate -
For amount in excess of Rs 5
crores and upto Rs. 10 crores -
50% of the normal rate. -
For amount in excess of Rs.10
crore – 25% of normal rate. Minimum Rs.600/- for all customers |
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2.
Amendments
to LC a) Extension
of validity of LC within the period for which commitment charges has been
collected. |
Rs.700/- for
each advice of amendment |
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b) Where
extension of validity of credit goes beyond the period for which commitment
charge has been collected. |
Commitment
charges as applicable to establishment of LCs, minimum Rs.600/- |
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c)
Enhancement of value of credit |
Usance and
commitment charges applicable to establishment of LC |
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d) Amendment
extending the tenor of the Bill of Exchange |
Normal
usance charge plus addl. usance charge at 0.09% per month or part thereof. |
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e) Amendment
other than extension of validity or enhancement of tenor of the Bill of
Exchange |
Rs.700/- for
each advice of amendment. |
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f) For
revival of expired L/Cs within 3 months from date of expiry |
Commitment
and usance charges from the date of expiry to the validity date of revived LC |
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3.
Countersigning bills of exchange drawn on importers under LCs |
0.1% per month ; Min 0.25% for the tenor of the bill
in addition to commitment and usance charges. |
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4. Charges on account of discrepancies in
documents in case of bills under LCs. |
USD 30 to be
taken from outside party. |
A) COMMITMENT CHARGES
B)
USANCE CHARGE AS PER TENOR OF BILL ON THE MAX AMOUNT OF DRAWIG PERMITTED AT
ONE TIME . |
0.175% for every quarter or part
thereof on the maximum amount of drawings permitted at any one time during
the period from date of establishment of LC to the last date of validity and
0.175% on each amount reinstated from date of reinstatement to the date of
subsequent reinstatement or the last date of validity of LC 1)
0.175% for bills upto 10 days sight 2)
0.35% for bills over 10 days sight and upto 3 months sight . 3)
0.35% for the first 3 months plus 0.090% for each month in; excess of
3 month for bills over 3 months sight. LCs upto Rs. 5 crores- No change
(normal rate) LCs above Rs.5 crores & upto
Rs.10 crores -
Upto Rs.5 crore – normal rate -
For amount in excess of Rs.5
crores – 50% of normal rate. LCs above Rs.10 crores -
Upto Rs.5 crores – normal rate -
For amount in excess of Rs.5
crores and upto Rs.10 crores – 50% of the normal rate. -
For amount in excess of Rs. 10
crore – 25% of normal rate. Minimum Rs.600/- for all customers. |
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6. For
establishing L/Cs/ Guarantees on deferred payment terms covering import of
goods. Commission
on the balance outstanding at the beginning of each quarter. |
Commission
on the balance outstanding at the beginning of each quarter. |
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Upto
Rs. 5 Crore |
Rs.
5 to 10 crore |
Above Rs. 10 crore |
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SB1/ SBTL1 |
SB1/ SBTL1 |
0.60% |
0.30% |
0.15% |
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SB2/ SBTL2 |
SB2/ SBTL2 |
-do- |
-do- |
0.1750% |
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SB3/ SBTL3 |
SB3/ SBTL3 |
-do- |
-do- |
-do- |
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SB4/ SBTL4 |
SB4/ SBTL4 |
-do- |
0.50% |
0.25% |
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Against GOI
counter guarantee or 100% cash deposit |
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0.09% |
0.075% |
0.075% |
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0.60% per quarter or part thereof for
all customers @ (@These charges are normally
determined by consortium shall apply.
However a floor rate of 50% of the normal charges will have to be
applied) |
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7. Amendments a) Extending validity period within 3
months (for which commission has already been collected). |
Rs.600/- flat |
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b) Extending
validity beyond 3 months period |
Additional
commission at 0.60% per quarter or part thereof |
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8. Commission on import bill (under
LCs) a.
Foreign
currency bills at the time of crystallization or retirement, whichever is
earlier. b.
Charges on
account of discrepant documents |
0.125% USD25 to be
taken from outside party (Discrepancy charges should be
stipulated at the time of opening LC) |
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c. Import
bills received under Letter of Credit on which no exchange benefit accrues to
opening bank |
0.225% |
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d(i)Rupee
bills at the time of retirement (ii) If
Bills are not retired within 10 days from date of receipt of bills in case of
demand bills and on the due date in case of usance bills |
0.225% addl.0.125% |
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9.
Commission on import bills (not under LC) a) Where
exchange margin is earned on foreign currency bills |
0.225% Minimum Rs.600/- |
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b) On each
bill drawn in rupees and on each bill drawn in foreign currency on which no exchange margin accrues |
0.35% Minimum Rs.1000 |
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c) On
bills/documents covering project imports under inter-governmental aid scheme
(including those financed by international agencies like World Bank, IMF, ADB
etc) where no letters of credit are opened |
Flat 0.075%; Min. Rs.600/- |
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d) In case
of documents received by importers directly from overseas exporters |
Rs.2,500/-
for all customers and Rs.3,500/- for non-customers. |
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9. If the
overseas remitting bank or the exporter abroad requests proceeds of
collection bills to be remitted in a currency other than the currency of the
bill |
Addl.
Commission at 0.175% |
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10. Parcels |
In all
cases. Rs.600/- per
month. |
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1. Clean
payments a) Effected under instructions from
foreign correspondents 1.
For retail
customers 2.
For Others Stop Payment |
Payment
against draft –Rs.125/- Payment
against TT Rs.175/- Rs.200/- Rs. 100/- |
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b) Where the
inward remittance has to be paid in foreign currency by way of a demand
draft/mail transfer/payment order/telegraphic transfer. |
Rs.600/-
flat per transaction |
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2. Certificates a) For
issuing bank certificates on security paper in respect of clean remittances
from abroad and/ or for encashment of foreign currency travelers
cheques/foreign currency notes |
Rs.100/- per certificate |
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b) Issue of
certificates on Bank’s letter head (where Rupee value of inward remittance
does not exceed Rs.5000/-) |
Rs.100/- per certificate |
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IV OUTWARD
REMITTANCES a)
i. On all
foreign currency outward remittances not being proceeds of import bills ii. issue of duplicate foreign
currency draft |
Individual (Rs.100/-) For other
Rs.600 per remittance plus actual out of pocket expenses i.e. postage,
courier & telegram charges. Individuals -Rs.100/- plus actual out
of pocket expenses. Others – Rs.300 plus out of pocket
expenses |
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b) Rupee
remittances |
Individuals- 0.125%
Min.Rs.125/- in all cases. Others – 0.30% Min. Rs.600/-
in all cases |
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c) Outward
remittances from FCNRB A/cs, NRE A/cs |
Free of charge |
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V.CLEAN
INSTRUMENTS FOR COLLECTION a. Clean
instruments sent abroad for collection |
Individuals
at 0.30%; Min Rs.300/-; Others at 0.30%; Min.
Rs.600/- Max.
Rs.25,000/- |
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b.Opinion report for
exporter/importer (both) |
Actual paid
to outside agencies plus out of pocket expenses |
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c.Opinion report on our
customers provided to foreign banks |
USD25 per
opinion |
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VI.MERCHANTING
TRADE (If foreign
currency remittances are received in advance by the exporter from the
overseas buyer and the funds are held in nostro account at the specific
request of the exporter). Commission
a)
On import
bills received under back to back LC b)
On export
bills drawn; by merchant exporters |
No charges specified 0.225 % 0.225% |
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VII. FORWARD
CONTRACTS a)
For booking
sales and purchase contracts b)
For each
request for early delivery, extension or cancellation |
Rs.700/-
flat per contract Rs.700/-
plus swap cost and cancellation charges wherever applicable |
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VIII.
FOREIGN CURRENCY TRAVELLERS CHEQUES 1.Sale of
foreign currency traveler's cheques |
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a)
Commission
on Rupee equivalent value of traveler's cheques sold to Indian residents b)
Commission
on foreign currency traveler's cheques issued against foreign currency
remittance at the request of the beneficiary |
1% 0.25% |
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IX.
GUARANTEES 1.
Guarantees
favouring Shipping Cos/Agencies pending production of Bill of lading a)
LCs opened
by us b)
Other
Guarantees |
Rs.700/-
flat 0.30% for 3
months plus 0.150% for each Additional month |
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2.
Project
Exports Performance
Guarantees# |
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a)
ECGC Cover
i) 75% ii) 90% |
0.50%* p.a +
ECGC premia 0.40%* p.a +
ECGC Premia |
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b)
100% GOI
Counter Guarantees c)
100% Cash
Deposits to the extent of Bank liability d)
Other
Guarantees (not covered
by a/b/c above) |
0.045% per
month premium Minimum 0.150% 0.030% per
month Minimum 0.125% 1.15% |
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@ 3. Other
Export Performance G’tees, Bid Bonds
etc. & those for Deemed
Exports 4. All Other guarantees where a.
100% GOI
counter guarantee b. 100% cash deposit to the extent of bank’s
liability 5.
Guarantees issued on behalf of overseas banks/parties (where charges are
payable by overseas banks/parties) |
0.10% per
month Min 0.30% 0.175%per
month Min. 0.30% 0.175%per
quarter and part thereof. Beyond 3
months-0.060% per month 0.15per per
quarter and part thereof. Beyond 3
months 0.050% per month. 0.175% per
month Minimum 0.30% |
*
Proportionate charges to be recovered for the completed months or part thereof.
# Includes (i)
Bid Bonds (ii) Bonds for Earnest Money and (iii) Guarantees for advance payment
made by foreign buyers to Indian exporters/contractors.
(@) Includes
export performance guarantees, Bid Bonds etc., (other than for project export
obligations in terms of import trade control regulations and export performance
guarantees/bid-bonds connected with deemed exports).
The period of
liability for calculation of charges shall include the claim period.
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X. OUT OF
POCKET EXPENSES SUCH AS TELEX/ CABLE/ CORRESPONDENT BANK’S CHARGES |
Actuals to
be recovered. |
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XI. STAMP
DUTY |
As per
charges prescribed by GOI |
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