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FCRA Transaction Codes in NEFT/RTGS: New Mandate from March 15

Current · Source: Reserve Bank of India · RBI/2022-23/178 · issued 16 Feb 2023 · ~2 min read

Quick answerFrom March 15, 2023, banks must use specific transaction codes (NEFT: code 41 in field 6305, RTGS: FCRA in PmtTpInf/CtgyPurp/Cd) and pass donor details in prescribed formats (NEFT field 7495, RTGS RmtInf/Ustrd tag) when remitting foreign donations to SBI's FCRA account. This ensures MHA gets daily donor reports.

The rule, in the simplest words

From March 15, 2023, banks must use a special code (NEFT: code 41 in field 6305, RTGS: FCRA in a specific tag) when sending foreign donations to SBI's FCRA account.
Banks must also send donor details (name, address, purpose, country, currency, amount) in a fixed order using specific fields (NEFT field 7495, RTGS RmtInf/Ustrd tag).
If a donor has a Legal Entity Identifier (LEI) number, use one format; if not, use a different format for the donor details.
This change helps the Ministry of Home Affairs (MHA) get daily reports on all foreign donations received by SBI.

How it plays out — a real example

A payments & clearing officer in Indore processes a foreign donation from a US donor to SBI's FCRA account. She must now select transaction code 41 in the NEFT field 6305 and fill the donor's name, address, and purpose in the 7495 field in the exact order prescribed, or the transaction will fail.

What changed

RBI has mandated that all NEFT and RTGS transactions for foreign contributions to SBI's FCRA account must include a new transaction code (code 41 in field 6305 for NEFT, FCRA in PmtTpInf/CtgyPurp/Cd for RTGS) and donor details in specific formats. The change, effective March 15, 2023, requires banks to update their core banking or middleware systems to capture donor details (name, address, purpose, country, currency, amount) in the prescribed order, with separate formats for transactions with or without Legal Entity Identifier (LEI) details.

What it means for you

Banks must now ensure their systems can capture and transmit detailed donor information for every FCRA-related transaction via NEFT/RTGS. This adds compliance overhead but aligns with MHA's daily reporting needs. Non-compliance could lead to transaction failures or regulatory scrutiny, so banks need to test their system changes before the deadline.

What you must do

Update core banking or middleware systems to include the new FCRA transaction code (code 41 in field 6305 for NEFT, FCRA in PmtTpInf/CtgyPurp/Cd for RTGS) by March 15, 2023.
Configure the 7495 field (NEFT) and RmtInf/Ustrd tag (RTGS) to capture donor details in the prescribed format, using the appropriate format for transactions with or without LEI details.
Test the new transaction flow with SBI's FCRA account to ensure donor data is transmitted correctly.
Train operations and compliance teams on the new requirements to avoid errors in remitting foreign donations.

Who it affects

Member banks participating in NEFT and RTGS systems, Banks handling foreign donations to SBI's FCRA account, Operations and compliance teams at banks

❓ Common questions

Regulatory timeline

Stated effective date effective March 15, 2023
Decoded by BankPulse 2026-06-18 04:59 IST

Built from our lineage records — each fact carries its provenance; missing history simply is not shown (never guessed).

What is the effective date for these changes?

The instructions are effective from March 15, 2023. Banks must have their system changes in place by this date.

What happens if we don't include the donor details in the required format?

The RBI circular does not specify penalties, but the MHA requires daily reporting of donor details. Missing or incorrect data could lead to transaction rejection or non-compliance with FCRA rules.

Do we need to include LEI details for all transactions?

No, LEI details are not required for all transactions. The circular provides separate formats for transactions with and without LEI details. If the transaction has LEI details, the format with LEI must be used.

📜 Read the original circular — full text as issued by RBI

RBI/2022-23/178
 CO.DPSS.RPPD.No.S1931/04-03-001/2022-23
 February 16, 2023
 The Chairman / Managing Director / Chief Executive Officer
 of member banks participating in NEFT and RTGS Systems
 Madam / Dear Sir,
 Introduction of Foreign Contribution (Regulation) Act (FCRA) related transaction code in NEFT and RTGS Systems
 Under the FCRA, 2010 (amended as on September 28, 2020), foreign contributions must be received only in the “FCRA account” of State Bank of India (SBI), New Delhi Main Branch (NDMB). The contributions to the FCRA account are received directly from foreign banks through SWIFT and from Indian intermediary banks through NEFT and RTGS systems.
 2. In terms of extant requirements of Ministry of Home Affairs (MHA), Government of India, the donor details such as name, address, country of origin, amount, currency, and purpose of remittance are required to be captured in such transactions and SBI is required to report the same to MHA on daily basis. 
 3. Keeping in view the above, necessary changes have been introduced in NEFT and RTGS systems, technical details of which are provided in Annex . Member banks are advised to incorporate necessary changes in their core banking / middleware solutions to capture the requisite details while forwarding the foreign donations through NEFT and RTGS systems to SBI. The instructions will be effective from March 15, 2023.
 4. These instructions are issued under Section 10 (2) read with Section 18 of Payment and Settlement Systems Act, 2007 (Act 51 of 2007).
 Yours faithfully,
 (P Vasudevan)
 Chief General Manager
 Annex 
 Technical Details related to FCRA Transactions in NEFT and RTGS Systems
 A) FCRA Transaction Code in NEFT and RTGS Systems:
 Originating banks are required to select the following mandatory fields of NEFT / RTGS systems while remitting foreign donations to the FCRA account at SBI:
 Field

Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2022-23/178 · issued 16 Feb 2023. The plain-English explanation above is BankPulse’s own independent summary.

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Who does what — compliance checklist

⚙️ Operations

Train operations and compliance teams on the new requirements to avoid errors in remitting foreign donations.

💻 IT / Systems

Update core banking or middleware systems to include the new FCRA transaction code (code 41 in field 6305 for NEFT, FCRA in PmtTpInf/CtgyPurp/Cd for RTGS) by March 15, 2023.

📜 Compliance

Configure the 7495 field (NEFT) and RmtInf/Ustrd tag (RTGS) to capture donor details in the prescribed format, using the appropriate format for transactions with or without LEI details.
Test the new transaction flow with SBI's FCRA account to ensure donor data is transmitted correctly.

Grouped from the action items above — a single circular may involve more than one team.

Worked example & action-note template

Example: if you are an IT/Systems lead at a bank this circular applies to (Member banks participating in NEFT and RTGS systems, Banks handling foreign donations to SBI's FCRA account, Operations and compliance teams at banks), your first concrete step on “FCRA Transaction Codes in NEFT/RTGS: New Mandate from March 15” is: “Update core banking or middleware systems to include the new FCRA transaction code (code 41 in field 6305 for NEFT, FCRA in PmtTpInf/CtgyPurp/Cd for RTGS) by March 15, 2023.” (RBI issued this 16 Feb 2023).

Circular: RBI/2022-23/178 -- FCRA Transaction Codes in NEFT/RTGS: New Mandate from March 15
Issued: 16 Feb 2023
Action required: Update core banking or middleware systems to include the new FCRA transaction code (code 41 in field 6305 for NEFT, FCRA in PmtTpInf/CtgyPurp/Cd for RTGS) by March 15, 2023.
Action required: Configure the 7495 field (NEFT) and RmtInf/Ustrd tag (RTGS) to capture donor details in the prescribed format, using the appropriate format for transactions with or without LEI details.
Action required: Test the new transaction flow with SBI's FCRA account to ensure donor data is transmitted correctly.
Action required: Train operations and compliance teams on the new requirements to avoid errors in remitting foreign donations.
Owner: ____________ Target date: ____________
Board/committee approval needed? Y / N
Evidence filed in compliance register on: ____________

Built only from this circular’s own published fields — not legal advice; always confirm against the official RBI source.

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BankPulse Compliance Evidence Pack — generated 03 Aug 2026 · status cross-checked against RBI’s official withdrawal register (refreshed weekly).
Official RBI source: https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=12454&Mode=0 — Plain-English summary by BankPulse (bankpulse.ai), reviewed by our expert reviewer, CA Amit Jain. Independent platform, not affiliated with the Reserve Bank of India; is our own plain-English paraphrase, not RBI’s original wording.