Indian Exporters’ Current Account
Interest-Bearing Current Account
Account available in Multiple Currencies
100% Digital Outward Remittance Platform
Indian Exporters’ Current Account
RBL Bank’s Indian Exporters’ Current Account at GIFT City is designed to simplify global trade banking for exporters. It enables multi-currency operations, efficient fund management, and seamless cross-border transactions through a modern digital platform.
Key Features:
Account can be opened in USD, EUR, GBP, JPY, AED and AUD.
Currently we offer interest rates in USD, EUR and AED on maintained balance.
Reduce FX conversion costs and transact in currency of choice.
90 days window to repatriate funds to India/use for FCY import commitments.
Allows exporters to better plan their hedging strategy.
Ideal For:
Exporters dealing with multiple global markets.
Exporters maintaining EEFC accounts in India.
Please contact your Relationship Manager / Transaction Banking partner for more information.
Frequently Asked Questions
It is interest bearing current account designed for exporters to facilitate collection of export-related receipts and permissible outward payments related to Imports through the GIFT City banking unit.
Any eligible Resident exporter having valid IEC engaged in cross-border trade and requiring an offshore/IFSC banking facility.
- Faster processing of export receipts and trade transactions
- Ability to operate in permitted foreign currencies
- Dedicated operations support through the GIFT City unit
- Competitive pricing and streamlined documentation
- Simplified account opening with pre-approved formats
Permissible Credit:
- Realization of export proceeds
- Advance against export
- Interest on available balance in Account
Permissible Debit:
- Import payment obligation
- Bank charges
- Repatriation of funds to India
- Refund of export advance/proceeds subject to condition that such proceeds were received in the same account earlier
Yes. Existing customers can open an Exporter Account by submitting the request letter and required documents.
Please reach out to the Service Team or your respective Relationship Manager.
There is no restriction on number of foreign currency accounts (FCA) an exporter can open per offshore location or country. Further, there is no restriction on the number of banks with which such accounts may be opened.
An unit in SEZ which is exporting goods and services outside India can open an FCA in GIFT City as per the regulations.
The Indian exporter is responsible for ensuring FEMA compliance for all transactions undertaken through such an account.
Funds realised in the overseas FCA can be repatriated in INR/FCY or as FCY in an EEFC account of an exporter/ FCA of an SEZ unit in India maintained in terms of FEMA 10(R).
The Indian exporter is responsible for ensuring FEMA compliance for all transactions, including import payments, undertaken through such account.
Any interest earned in this account will have to be repatriated within 90 days from the date of credit after adjusting for permissible debits as indicated in the regulations.
Payments/receipts of MTT are not permitted from any FCY account outside India.
Exporter receives:
- Copy of MT103 is on email
- Account statement is visible on Corporate Internet Banking
