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Bank of Maharashtra

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 Bank of Maharashtra

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

  • AD (B-Category) branch, then Centralized Processing Hub-Forex (CPH-Forex) verified

    Policy: export/import/remittance work 'is initiated at AD branches' and dealt with by CPH-Forex. Framework: a customer whose home branch is non-forex is served via the mapped B-Category branch.

    Source

Documents the bank may ask for

  • EDF specifying full export value (to the Bank as specified authority) verified
  • BoM Branch Covering and Disposal form (for services inward codes) verified
  • Any one of: accepted PO / proforma invoice or fee statement / agreement or contract note specifying consideration verified
  • IEC copy on branch record (policy A.1 general rule for exporters) verified
IEC needed?
Yes, the bank asks for an IEC
Timing
30 days from end of invoice month; single EDF for the month allowed. Bank may extend on a reasoned request. EDPMS entry within 5 working days.
Charges
Schedule of charges PDF (Mar 2026) published on cross-border page; services-EDF line not identified.
FIRA / FIRC
Not quantified in documents reviewed.
Declaring the purpose code
B-Category branch (or mapped B-Category branch if home branch is non-forex) gets an automated work item, informs the customer, and the customer submits disposal instructions and documents 'based on Purpose of payments / Purpose Code Selected'. The branch scrutinises and forwards to CPH-Forex.

Recommendations

  • If your home branch is non-forex, inward services receipts are handled via the mapped B-Category branch. Ask for its contact.
  • BoM's policy says IEC 'should be current and valid and copy of such IEC should be on record of Branch'. Get an IEC.
  • Keep a contract or fee statement for each client; BoM's purpose-code list asks for one with each services inward.
  • For PA/platform payouts that arrive as domestic INR credits (Wise/Skydo/Razorpay/Payoneer/PayPal), keep the provider's FIRA/e-FIRC and ask the bank how it wants them mapped to the EDF; no bank in this group publishes a rule for this.

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

Sources