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Kotak Mahindra Bank Ltd.

Research notes as of 05 Oct 2026, not legal or tax advice. VERIFIED means we read the primary source, REPORTED means secondary sources only, and UNCERTAIN means the law or practice is unclear. Ask your bank or a CA before acting on uncertain points.

How to file with Kotak Mahindra Bank Ltd.

From the bank's published export policy and other sources, checked 2026-10-04. Banks are still settling their procedures, so confirm with your branch.

How to submit

  • fyn (Kotak corporate digital platform) verified

    Export workflow: 'Customer initiates request via fyn' and uploads documents by transaction type/purpose code. This is a corporate platform; retail/811 access not stated.

    Source

  • Trade Branch verified

    Offline: customer submits request letter and documents to the Trade Branch.

    Source

  • Trade Branch / RM / Product Sales Manager verified

    Level 1 escalation contact, same-day response target.

    Source

Documents the bank may ask for

  • Customer request letter with FEMA declaration verified
  • EDF (per Reg. 3 timelines) verified
  • Invoice verified
  • Declaration confirming realisation for small value (< INR 10 lakh) verified
  • For individual inward remittance: disposal instruction, invoice or sales contract, FEMA/OFAC declaration, agreement/other supporting document for service export verified
IEC needed?
Not confirmed. Ask your bank
Timing
EDF within 30 days from end of invoice month. Non-software services may file on or before payment receipt. Bank may extend on request. TAT for service exports T+2, EDPMS closure T+5 days.
Charges
Trade Services GSFC w.e.f. 12 Oct 2026 (excl. 18% GST): 'Software and Service Handling charges' 0.075%, min Rs 1,500 per bill (+ courier Rs 1,000 / SWIFT-SFMS Rs 500 where used). Whether this applies per services EDF is UNCERTAIN; ask the branch. Export bills received for regularisation 0.075%, min Rs 1,250. Inward remittance free. FIRA issuance (original/duplicate) Rs 250. Change of purpose code Rs 1,000 per remittance. Policy: no penalty for regulatory delay.
FIRA / FIRC
GSFC (12 Oct 2026): FIRA issuance (original or duplicate) Rs 250 + GST. Inward remittance free. Kotak blog says Privy+ Business current accounts get free FIRC/e-BRC (REPORTED). Savings/811 pricing not verified.
Declaring the purpose code
Current-account customers do it on fyn (document upload by purpose code; with a standing instruction, an invoice is needed for values below INR 50,000). Offline it is a disposal instruction at the Trade Branch. Retail/811 netbanking module not verified.

Recommendations

  • Kotak's documented channels are fyn (corporate) and the Trade Branch. Kotak811 customers may have no branch trade desk, so ask Kotak customer care or a Kotak branch which Trade Branch handles your EDF, and email/hand over the EDF with invoices.
  • Provide a disposal instruction plus invoice/contract for each foreign credit (Kotak lists these for individual inward remittances).
  • Before filing, ask whether Kotak's 'Software and Service Handling charge' (0.075%, min Rs 1,500 + GST per bill, from 12 Oct 2026) will be levied per monthly EDF or per invoice. A single consolidated monthly EDF keeps this to one charge if it is levied per EDF.
  • File one consolidated EDF per month, within 30 days after the end of the invoice month. For non-software services you may file on or before the date payment is received.
  • When a foreign credit arrives, give a disposal instruction with the exact purpose code (P0802 software consultancy/implementation, P0807 off-site software exports, P1006 business/management consultancy, P1007 advertising, P1014 engineering, P1099 other services). Do not let it be booked as a personal/family remittance (P13xx).
  • For INR credits from a PA-CB (Wise Business, Skydo, Razorpay MoneySaver, Xflow, BriskPe, etc.) keep the provider's FIRA/e-FIRC and attach it with the invoice when the bank asks for realisation evidence.

The bank's export policy (FEMA 23(R)/2026, Reg. 19 disclosure)

Sources