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A.Export |
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| 1 |
Bills purchased/Discounted/Negotiated
a) Foreign CCY Export Bill
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For Bill Amount equivalent USD 25,000/- & above - Rs.1,200/-
For Bill amount below equivalent USD 25,000/- - Rs. 600/-
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b) Rupee Export Bill
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For Bill Amount equivalent USD 25,000/- & above - Rs. 1,200/-
For Bill amount below equivalent USD 25,000/- - Rs. 600/-
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| 2 |
Forwarding export documents to another bank due to reasons such as LC being restricted to the later or the LC have been confirmed by that bank
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Rs. 1000/- Flat Rate
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| 3 |
Where reimbursement under a letter of credit is claimed by the bank with another Authorised Dealer in India.
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Rs 500/- (for each claim)
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| 4 |
For joining customer's guarantees and giving guarantees on behalf of customers in respect of discrepant documents.
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0.10% with min. of Rs 500 for each transaction
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| 5 |
Commission in lieu of exchange
=>Transfer of Letters of Credit
=>Amendments
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Rs. 500/- for each transfer and subsequent amendment
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| 6 |
Certificates: Charges for issue of certificates/ attestation authorisation in respect of export transactions.
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NIL - charges per set of e- BRC Rs. 100/- Other certificates
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A2. Bills sent on collection basis
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| 7 |
For each export bill in Foreign Currency sent for collection.
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For Bill Amount equivalent USD 25,000/- & above - Rs. 750/-
For Bill amount below equivalent USD 25,000/- - Rs. 500/-
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| 8 |
If the entire sets of export documents have been sent by the exporter directly to the Overseas buyer after complying with Exchange Control formalities.
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a) Where full advance remittance has been received through our bank
- Rs 200/- per Bill.
(b) Where full advance remittance received through other bank – Rs 500/- Per Bill. (c) If advance remittance is not received and bill amount is to be collected then
(i) For Bill Amount equivalent USD 25,000/- & above ----- Rs. 1,200/-
(ii) For Bill a mount below equivalent USD 25,000/- --------- Rs. 600/-
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| 9 |
For each export bill sent for collection against which advance payment already received
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Rs .250 per remittance. Charges applicable to ‘Export Bills for Collection’ under Serial No.18 should be recovered from the customer at the time of submission of export bills.
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| 10 |
n case of each overdue export bill, sent on collection where the proceeds are not received in NOSTRO Account on or before the due date and in case of each overdue export bills purchased/discounted /negotiated / negotiated and subsequently treated as collection item after crystallisation.
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Rs 500/- per quarter or part thereof to be recovered at the time of realisation of the bill or when reported in XOS statement whichever is earlier.
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| 11 |
Bank Realisation Certificate Charges(e-BRC)
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NIL charges per set of e- BRC
Rs 100/- Other certificates
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A3. Export Letter of Credit
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12
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Advising letter of credit
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Rs 1000/- for each LC
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13
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Advising amendment
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Rs 600/- for each amendment
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14
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LC Confirmation charges
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charges (Commitment+ Usance)
Sight LCs and upto 30 days usance:
LC Amount %
Upto 1 crore 0.25
>1 crore up to Rs 5 Cr. 0.18
>5 crore 0.10
LCs beyond 30 days usance:
LC Amount % per
month
Upto 1 crore 0.18
>1 crore upto 5 crore 0.09
>5 crore 0.05
Minimum Rs 1000/-
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15
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Transfer of letter of credit
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Rs 1000/- for each transfer and
subsequent amendment
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B.Import
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16
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B 1. For establishing an Import Letter of Credit/Revolving Letter of Credit/Letter of Credit covering imports of goods on deferred payment terms
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A) DP L/C ( Import)
Charges for establishing Letter of Credit
Sight LC (DP)
0.35% for first quarter plus
0.15% p.m. thereafter
B) B) USANCE L/C (Import)
Borrower account with credit rating
Borrower account with credit rating
AAA 0.60% p.a. from the
date of opening of LC
to last date of its validity including Usance period
AA 0.60% p.a. from the
date of opening of LC
to last date of its validity including Usance period
A 0.75% p.a. from the
date of opening of LC
to last date of its validity including Usance period
BBB 1.50% p.a. from the
date of opening of LC
to last date of its validity including Usance period
Below BBB and Unrated 2.25% p.a. from the date of opening of LC
to last date of its validity including Usance period
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17
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In case of a Letter of Credit established against 100% cash deposit as Security.
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25% of the charges AS MENTIONED ABOVE
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18
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STANDBY LETTER OF CREDIT
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Borrower account with credit rating
Charges
AAA
1.00% p.a. from the
date of opening of LC
to last date of its validity including usance period.
AA
1.00% p.a. from the
date of opening of LC
to last date of its validity including usance period.
A
1.50% p.a. from the date
of opening of LC
to last date of its validity including usance period.
1.50% p.a. from the date
of opening of LC
to last date of its validity including usance period.
BBB
2.25% p.a. from the date
of opening of LC
to last date of its validity including usance period.
Below BBB & Unrated
2.50% p.a. from the date
of opening of LC
to last date of its validity including usance period
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19
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Letter of Comfort issued for availing Buyer’s Credit
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Rating
Upto one year Raw material & Capital Goods
Above One Year (Capital Goods)
AAA
1.00 p.a.
1.50 p.a.
AA
1.00 p.a.
1.50 p.a.
A
1.50 p.a.
2.00 p.a.
BBB
2.25 p.a.
2.50 p.a.
Below BBB & Unrated
2.50 p.a.
3.00 p.a.
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20
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DEFERRED IMPORTS Commission on letter of Credit covering import of goods on deferred payment terms involving payments beyond a period of six months from the date of shipment over a period of time as defined in Exchange Control.
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Calculated on the amount of liability under such credit at the beginning of every quarter
LC Amount
% per quarter
Upto 1 crore
0.25
>1 crore upto 5 crore
0.18
>5 crore
0.10
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21
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If the validity period of a Letter of Credit covering import on deferred payment terms is extended.
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Flat amendment commission of Rs. 500/-, However, for any amendment extending the validity of the letter of Credit beyond 3 month period, commission at the applicable rate shall be recovered.
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22
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Amendment Enhancement
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When the amount of an import letter of credit covering import on deferred payment terms is enhanced, commission at the applicable rate shall be recovered on the amount so enhanced.
Note:
For purposes of levying charges under this Rule value of each enhancement will ordinarily be considered separately without adding it to the outstanding liability of the letter of credit. However, branches may, at their discretion “add” the value of enhancement to outstanding liability of the letter of credit for purpose of levying charges depending upon the circumstances of each case.
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B2 Amendment to letter of Credit (LC)
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23
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Extension of validity of L/C
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Rs. 750/- per amendment plus
charges applicable as per point B1 (Import) Serial No. 16
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24
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In case of enhancement of value of credit.
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Rs. 500 per amendment.
In case of enhancement of the value of a Letter of Credit, charges as per point No. B1 (serial No. 16) for establishing a Letter of Credit shall be recovered for the additional amount, on the outstanding liability under the LC.
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25
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In case of amendment extending the tenor of
the Bills of Exchange.
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Rs. 500 amendement charges.
In the case of amendment altering the tenor of the Bill of Exchange, additional charges as per point B1 (serial No. 16) shall be collected on the outstanding liability under the LC.
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26
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Amendment other than extension of validity or
enhancement of tenor of the bill of Exchange.
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Rs. 500/- per amendment.
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27
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For revival of expired L/Cs within 3 months
from date of expiry.
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Any revival or reinstatement of an expired LC shall be at the
option of the bank but within 3 months from the date of expiry and shall be subject to recovery of charges as per
point B1 from the date of expiry upto the validity period of the revived Letter of Credit.
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B3 Commission on Import Bills
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28
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Foreign currency bills at the time of
crystallisation or retirement whichever is earlier
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0.15% of each import bill
subject to Minimum Rs 1000/-
For individual transactions: Upto Rs. 1 crore - 0.15%
>1 crore upto 3 crore- 0.08%
>3 crore upto 5 crore- 0.04%
> 5 crore - 0.02%
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29
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Foreign currency bills under LC where no exchange benefit accrues to the opening bank.
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0.1% (minimum Rs. 500/-)
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30
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Discrepancy charges in case of non - confirming documents under LC.
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USD 50 or its equivalent rupee
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B4. Commission on import bills (not under L/C
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31
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a.On each bill drawn in Rupees and in foreign currency on which no exchange margin accrues to the bank.
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0.30% with a minimum of
Rs 500 and Maximum of
Rs 50,000/-
For individual transaction over
Rs. 1 crore rates rates applicable as below Borrower account with
Credit rating
Charges
AAA
0.60% p.a.
AA
0.60% p.a
A
0.75% p.a
BBB
1.50% p.a
Below BBB and Unrated
2.25% p.a.
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32
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b.On each bill drawn in foreign currency on which bank earns exchange benefit.
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0.15% with a minimum of Rs 500/- and Maximum of Rs 25,000/-
For individual transaction over
Rs 1 crore rates applicable as below Borrower account with
Credit rating
Charges
AAA
0.60% p.a.
AA
0.60% p.a
A
0.75% p.a
BBB
1.50% p.a
Below BBB and Unrated
2.25% p.a.
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33
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For foreign currency import bill required to be forwarded to another bank required for remitting proceeds to the remitting bank abroad
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Rs 500 per bill as handling charges.
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34
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For each bill received by Importer directly from the overseas Exporter/Bank at the time of effecting remittance.
If bill is paid by debit to EEFC A/c etc. where no exchange margin is earned.
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50% of charges in point B 4(b) (Serial No. 32)
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35
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Import documents covering project imports under Inter-Government Aid Scheme and Schemes (including projects those financed by International Agencies like World Bank, IMF,
ADB etc.) where no LC is opened.
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0.20% with a minimum of
Rs.500
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36
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IMPORT DOCUMENTS RECEIVED DIRECTLY BY IMPORTERS
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50% of Serial 32 B4 (b) i.e. 0.15% with a minimum of Rs. 500/- and Maximum of Rs. 25,000/-
For individual transaction over Rs. 1 crore rates applicable as below Borrower account with
Credit rating
Charges
AAA
0.60% p.a.
AA
0.60% p.a
A
0.75% p.a
BBB
1.50% p.a
Below BBB and Unrated
2.25% p.a.
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37
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Countersigning/co-acceptance/availisation of import bills
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0.085% per month for the tenor of bills subject to minimum of 0.25%
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38
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Custody charge for overdue bills
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Rs. 250 per quarter or part thereof for each bill, if the bill is not paid within 10 days from the due date/date of presentation.
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39
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Recovery of commission in lieu of exchange on import bills payment of which are settled out of foreign currency loans arranged abroad, foreign currency accounts and EEFC accounts.
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Commission @ 0.1% in lieu of exchange in respect of letters of credit opened and which are settled out of foreign currency loans arranged abroad, foreign currency accounts and EEFC accounts. (Minimum Rs. 500/-)
In case of bills not covered by L/C’s 0.1% commission in lieu of exchange shall be collected in addition to collection charges.
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40
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IMPORT BILLS FOR COLLECTION Usually in respect of foreign currency collection bills the bank shall be entitled to exchange and commission. If for any reason the bank is required to forward the documents to another bank which will be required to remit the proceeds to the remitting bank abroad.
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Rs. 500 per bill as handling charges.
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41
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If foreign currency remittances are received in advance from the overseas buyer, and the specific request of merchanting trade customer hold the foreign currency funds in their Nostro A/C without converting the amount into Indian Rupee till the date of payment to the overseas supplier & the bank would not apply buying and selling rate of exchange.
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Commission at 0.1% shall be charged on each transaction and the Bank shall not pay interest on such advance remittances or not grant Rupee advances against foreign currency Funds thus received. (minimum Rs. 1000/-)
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C. Merchanting Trade
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42
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Merchanting Trade
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Commission at 0.1% shall be
charged on each transaction and the Bank shall not pay interest on such advance remittances or not grant Rupee advances against foreign currency Funds thus received. (minimum Rs 1000/-)
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D. Miscellaneous Charges a) Inward Remittance
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43
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Encashment of TTs/ purchase of MTs/DDs in respect of which cover has been received in Nostro Accounts
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Applicable Buying rate plus interest for a transit period of 15 days at domestic commercial rate of interest (Base Rate + 7%) (in case of advance remittance against export, rate of interest applicable to Packing Credit is to be charged for a period of 15 days)
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44
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Where the inward remittance has to be paid in foreign currency by way of a Demand Draft/Mail Transfer/Payment Order/Telegraphic Transfer
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0.1% min. Rs.100/- and maximum Rs. Rs 5000/-
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45
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Commission in respect of each clean payment effected under instructions from a foreign correspondent (inward remittance)
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No charges, whenever proceeds are to be credited to deposit account with us.
Others – Rs. 100/-
(GST applicable to be recovered)
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46
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Where the inward remittance has to be executed in foreign currency by issuing a demand draft/mail transfer/payment order/telegraphic transfer commission shall be recovered from beneficiary/beneficiary’s bank as the case may be.
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0.1% min. Rs. 100/- and maximum Rs. 5000/-
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b. Clean Payments
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47
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Commission on clean Instruments sent for
collection abroad
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0.1% min. Rs.50/- and maximum 5000/-
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48
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Foreign currency instruments favouring resident beneficiary and sent for collection in India
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In respect of foreign currency instruments favouring resident beneficiaries sent for collection within India, charges as applicable for inland transactions may be recovered.
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c. Outward Remittance |
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49
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Where the outward remittance has to be made in foreign currency by way of a demand draft/ Mail transfer/ Payment order/telegraphic transfer/Swift.
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An amount of Rs. 100 upto Rs. 10,000/- and
Rs. 200 above Rs. 10,000/-
(In case of advance remittance against imports additional charges equivalent to 25% serial No 31 or serial No 32 as applicable are recoverable)
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50
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Outward remittances to the debit of EEFC
accounts(other than imports)
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0.10% with a minimum of USD
10 and maximum of USD 50 or its rupee equivalent.
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51
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Issue of Foreign Currency
Travellers Cheques Commission
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@ 1% on rupee equivalent payable by the customer
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52
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Where at the request of the beneficiary, foreign currency travellers cheques are issued by the Authorised Dealers against foreign currency remittances received from abroad, the commission payable.
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0.25%
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53
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Payment of foreign currency draft by the drawee bank by issuing their own draft in the same currency in favour of the beneficiary bank with whom the relative foreign currency amount is to be deposited in a FCNR Account.
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Rs. 250 per draft
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d. Forward Contract |
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54
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Charges for Booking of forward contracts.
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Rs. 400/- per sale or purchase contract.
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55
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Charges for early delivery/extension of
contracts (including NRIs)
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Rs 400/- per sale or purchase
contract.
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56
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Booking of forward sale contract in respect of import bills drawn under letter of credit opened by another bank. (Where an importer has arranged for fixation of a forward contract with a bank other than the one through whom the letter of credit has been opened).
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0.1% commission in lieu of exchange in addition to swap cost and interest from the date of negotiation till the date of credit of proceeds in the banks Nostro a/c (minimum Rs. 500/-)
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e. swift charges |
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57
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swift charges
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Rs 500/- per message
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E.Guarantees:
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The scale of charges shall be collected by banks on the specified period of liability of the guarantees. The specified period of liability shall mean the actual validity period of the guarantee plus the additional period during which claims can be made on the bank under the guarantee
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58
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Guarantees in favour of shipping companies/agencies for clearance of goods pending production of bill of lading
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a. Relating to imports under LCs opened by the guarantor banks themselves.
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0.25% for three months at the time of issue of guarantee with min. of Rs. 500.
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a. In all other cases
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If the guarantee validity is beyond 3 months, an addl. commission of 0.10% per month or part thereof till the guarantee remains valid
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59
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In case of guarantees issued against 100% counter guarantees of the Govt. of India
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Min. 25% of normal rates as mentioned in point 58
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60
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Export performance guarantees for Project Exports which include:
a. Bid-bonds
b. Bonds for earnest money
c. Guarantees for advance payment made by foreign buyers to Indian exporters/contractors.
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In case of guarantees covered by ECGC counter- guarantees, banks shall collect commission as well as ECGC premium at the applicable rates and remit the collected premium to the ECGC. The present rates are as under:
ECGC cover 90%
75%
ECGC Premium 0.95%
0.80%
Bank Comm. 0.35%
0.45%
Total costs to exporters 1.30%
1.25%
• In case of guarantees issued against 100% counter-guarantees of the Govt. of India/ cash deposit, charges are as per 59.
• In case of guarantees which are not covered by cash deposits or ECGC/ Govt. of India counter guarantees, commission shall be charged at 1%p.a. However, request for waiver of ECGC cover is to be referred with justification to International Division for consideration on a case to case basis.
• Commission in respect of Bid Bonds: Commission for issuing bid bonds for supplies to projects carried out abroad shall be recovered to the extent of 25% thereof for the full period of validity of the bonds at the time of issue.
If the bid materialises the balance 75% of the commission shall be recovered. However, if the bid gets frustrated, there will not be refund of that part of the commission previously collected
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61
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Export performance guarantees, Bid-bonds etc. (other than for Project Exports) and Export performance guarantees covering export obligations in terms of import trade control regulations and export performance guarantees/ bid bonds connected with deemed exports
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0.085% per month for the specified period of liability. Where the guarantee period is less than 3 months, commission recoverable will be 0.25% of the guaranteed amount. In case of early redemption of the guarantees beyond a period of 3 months from the date of issue, 50% of the commission for the unexpired period i.e. from the date of redemption to the expiry date shall be refunded. Commission for issuing bid bonds for supplies connected with deemed exports/direct exports other than project exports shall be recovered to the extent of 25% thereof for the full period of validity of the bonds at the time of issue. If the bid materialises, the balance 75% of the commission shall be recovered. However if gets frustrated, there will not be refund of that part of the commission previously collected.
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62
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Deferred Payment Guarantees covering imports of goods into India/ repayment of foreign currency loans.
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0.50% per quarter or part thereof for the specified period of liability calculated on the amount of liability under such guarantees at the beginning of every quarter. If the commission chargeable works out upto Rs. 10,00,000/-, entire amount to be recovered upfront. If the commission chargeable exceeds Rs. Rs 10,00,000/-, the commission amount exceeding Rs 10,00,000/- plus ST may be recovered in suitable installments to be stipulated on merits of each case duly seeking Zonal Authorities’ approval, subject to following: Where the entire Guarantee Commission is collected upfront, the rate of commission and exchange rate (TT Selling) prevailing as on the date of issuance of the guarantee shall be applied. No further adjustment arising out of future revision if any in the Guarantee commission shall be made. Where the Guarantee commission is recovered on installment basis, the rate of commission and exchange rate (TT Selling) prevailing as on the date of recovery of each installment shall be applied.
In the event of default in payment of installments, interest shall be recovered at domestic commercial rate from the date of default to the date of actual payment.
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