'Disposal of Inward Remittance' requests through Internet Banking

Frequently Asked Questions (FAQs):

  1. What is the purpose of this facility?

    This facility can be used for following three purposes:

    • Tracking and disposal of fresh remittance:You have sent fresh remittance from abroad to your NRO or NRE account but yet not credited into your account. You can submit your remittance details, through which Bank can trace the remittance. Once the remittance is traced and credited, deposits will be created out of it as per your instructions.

    • Creation of multiple deposits:If you wish to create multiple deposits from the total amount sent to your NRE or NRO account, then you can give instructions through this facility. For example, if you have sent fresh remittance of $ 1000 to your NRE savings bank account, and you want to create one NRE STDR of Indian rupee equivalent of $ 700 for 2 years and another NRE STDR of $ 300 for 5 years, then you can give instructions using this facility.

    • Request for creation of FCNR (B) deposits:If you wish to create FCNR (B) deposit out of the fresh funds sent or from the existing funds lying in your NRE or NRO Savings Bank account, then you can give instructions using this facility.

  2. Which all deposits I can create using this facility?

    You can place the request for creation of deposit of any of the following type:

    Account Deposit Type
    Non Resident External (NRE)
    • Term Deposit (TDR)
    • Special Term Deposit (STDR)
    • Recurring Deposit (RD)
    Non Resident Ordinary (NRO)
    Foreign Currency Non Resident (Bank) {FCNR(B)}
    • Term Deposit (TDR)
    • Special Term Deposit (STDR)
  3. Who can place ‘Inward Remittance Disposal request’ through internet banking facility?

    Any NRE / NRO account holder, whose NRE / NRO account is linked to Internet Banking, can place the request. Customer should have transaction rights enabled for the Internet Banking.

  4. What will be the rate of conversion, if there is involvement of conversion of currency in the process?

    TT Buying Card Rate as applicable on the day of effecting the transaction.

  5. What is the procedure for using this facility?

    Procedure to be followed is mentioned as under:

    • Please login to your INB account

    • Click on ‘e-Services’ tab

    • Click on ‘NRI Services’ appearing in the column on left hand side

    • Click on ‘Inward Remittance Disposal Request’

    • Please select / enter request details and click on Submit

  6. How much time will it take for sending the remittance through this facility?

    Your request will be forwarded to your home branch in India, which will process your request within 2 - 3 working days.

  7. How will I get confirmation that, branch has processed my request?

    Once your home branch has executed the transaction, a SMS and Email alert will be sent on your registered details confirming the execution of same.

  8. Whom should I contact in case of any issue about this facility?

    Please send an email to your home branch along with the details of the issue.