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Punjab & Sind Bank

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 Punjab & Sind Bank

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

  • Branch / H.O. Foreign Exchange Dept. verified

    The cross-border framework (Sep 2026, issued per FEDAI Ref. 138/F-207/2026 dated 29.04.2026) covers inward and outward remittances only. The H.O. Foreign Exchange Dept., New Delhi email is ho.fex@psb.bank.in. Services EDF is not mentioned.

    Source

Documents the bank may ask for

  • Customer request letter stating purpose of remittance and disposal instructions (Annexure-B) verified
  • Invoice copy, agreement copy (trade-related inwards) verified
IEC needed?
Not confirmed. Ask your bank
Timing
Inward processed the same day if complete instructions are received within 9:30 AM–3:00 PM. Services-EDF timeline not published beyond the Regulations.
Charges
Per Schedule of Charges (forex schedule PDF dated Jan 2023); services-EDF line not identified.
FIRA / FIRC
Not quantified in documents reviewed.
Declaring the purpose code
The bank tells the beneficiary of the inward and seeks the purpose and disposal instructions. The customer's request letter states the purpose (Annexure-B). Clean remittances up to USD 1,000 (e.g. family maintenance, Google/Facebook advertising income) may be credited directly without Annexure-B, limited to one per week.

Recommendations

  • For each services-export inward above USD 1,000, expect P&SB to ask for an Annexure-B purpose letter with the invoice and agreement.
  • Ask the branch, or ho.fex@psb.bank.in, where the monthly services EDF should be lodged, since the framework is silent on it.
  • Ask your home branch whether it is an AD (forex) branch; if not, ask which mapped AD/forex branch handles your EDF and inward remittances, and get the email address in writing.
  • 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