Cross Border Remittances (Inward & Outward)

Jana Small Finance Bank has partnered with IndusInd Bank to deliver hassle-free cross-border remittance services. Customers can transfer funds globally with ease, backed by secure transactions, regulatory compliance, and support for multiple foreign currencies.

Why Jana Small Finance Bank ?

  • Competitive/Better exchange rate
  • Lower charges for Outward remittance among peer banks.
  • Faster Processing (T+1)
  • No Charges for Inward remittance (only taxes as applicable)

Inward Remittance

International money transfers received in India from overseas for eligible personal and non-trade purposes.

Permitted Purposes

  • Family maintenance and savings from Indian non-residents
  • Personal gifts and donations
  • Receipts towards Non-Resident deposits (FCNR(B)/NRE accounts)
  • Compensation of employees / Salary credits

Process Flow

  1. Initiate inward wire transfer from overseas bank.
  2. Complete their Transfer form by mentioning beneficiary details, beneficiary bank details and IndusInd correspondent bank details.
    • Name of the Beneficiary: Jana Small Finance Bank Limited
    • Account No. of the Beneficiary: 201021255493
    • Account with: IndusInd Bank Limited, (Branch Name: MG Road)
    • IndusInd Bank SWIFT Code: INDBINBBBGM
    • Jana SFB IFSC Code in Field 57
    • Beneficiary account details in Field 59
    • Purpose code/details in Field 70 or Field 72
  3. Foreign currency amount is converted to INR at applicable exchange rates.
  4. Jana SFB credits the customer account with transaction narration as “Forex Remittance”.
  5. Transactions requiring clarification or failing compliance checks may be kept on hold or returned to the remitter bank.

Applicable Documents

  • Customer Declaration for inward remittance
  • FEMA declaration (included as part of disposal instruction)
  • Standing Instruction (for recurring remittances such as salary credits)
  • Disposal instruction/email confirmation for self-account funding by NRIs

Outward Remittance

International money transfers sent from India for permitted personal and non-trade purposes under FEMA and LRS guidelines.

Permitted Purposes

  • Family maintenance and savings
  • Personal gifts and donations
  • Education-related travel and university fees
  • Repatriation of Non-Resident deposits (FCNR(B)/NRE accounts)

Process Flow

  1. Customer submits outward remittance request at the branch with required documents.
  2. Branch verifies documents and raises service request for processing.
  3. Transaction Banking Team validates:
    • PAN and KYC details
    • Form A2
    • Purpose code and supporting documents
    • Fund availability and compliance requirements
  4. Request is shared with partner AD-I Bank for processing.
  5. AD-I Bank reviews documents, debits the account, and executes the international transfer.
  6. Funds are remitted to the overseas beneficiary account through SWIFT transfer.

Applicable Documents

Family Maintenance (S1301)
  • Form A2
  • Self-attested PAN card copy
  • Beneficiary passport copy / relationship proof
Gift Remittance (S1302) & Repatriation of NRE Deposits (S0014)
  • Form A2
  • Self-attested PAN card copy
Education Fee Payment (S0305)
  • Form A2
  • Self-attested PAN card copy
  • University admission/offer letter
  • Student ID or passport copy

FAQs

What is a cross-border remittance?

What is a cross-border remittance?

A cross-border remittance is an international money transfer sent or received from another country.

Who can use inward remittance services?

Residents as well as Non-residents individuals and eligible account holders receiving money from overseas for permitted purposes can use this service. Remittances for CA or Non-Individuals are not available currently.

Which currencies are supported?

International remittances are supported in multiple major global currencies through the partner AD-I Bank network.

Is PAN mandatory for outward remittances?

Yes, PAN is mandatory for outward remittance transactions under FEMA/LRS guidelines

What is Form A2?

Form A2 is the prescribed FEMA declaration form required for outward foreign remittances.

How long does an inward remittance take?

Subject to compliance checks and complete information, inward remittances are generally processed within standard banking timelines.

Can transactions be rejected?

Yes. Transactions may be rejected or returned in case of incomplete information, compliance concerns, or non-permitted purposes.

What is the maximum remittance limit under LRS?

Resident individuals can remit up to USD 250,000 per financial year under the Liberalised Remittance Scheme (LRS), subject to RBI guidelines.

Are business/trade remittances allowed?

No. Only permitted non-trade current account transactions are supported under the AD-II arrangement.

What details should the remitter provide for inward remittances?

The remitter must provide:

  • Jana SFB IFSC Code
  • Beneficiary account number and name
  • Purpose of remittance
  • Correct SWIFT transfer details

How to get the rate for the day?

The rates for the day can be checked on the following link: FX Rates. However, kindly ensure to refresh the browser/cache memory and cross-check the date mentioned on the table.

Are there any tax implications for remittances?

In case of transactions by resident individual, additionally TCS (Tax Collected at source) might be applicable depending on the utilization of LRS limit against customer PAN.

Are there any charges applicable for remittances?

Please visit our website for Service Charges & Fees > Forex

Where can I download the Forms?

Visit the nearest branch of Jana Small Finance Bank Ltd. and our Branch Official will guide you on the application process.



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