RBI Purpose code Finder

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Purpose code Format

Purpose Code Format Structure
P-Series: For services, business and personal transactions.
S-Series: For goods trade (exports/imports).
E.g: For a freelancer receiving payment from foreign client for developing a mobile app.
P0805 - Software development services, where 08 is IT and software services and 05 is software development.

What is the Purpose Code?

The purpose code is an alphanumeric code assigned to transactions. It helps clarify fund usage, assists regulatory authorities, and facilitates cross-border transactions.

Need for Purpose code

There is a strong need for a purpose code search tool for transactions. Here are four key reasons:

Preventing Fraud & Money Laundering: Ensures transactions comply with RBI regulations and aren't linked to illegal activities.
Enhancing Transparency: Helps both senders and receivers with clear fund auditing and financial planning.
Faster Transaction Processing: Correct purpose codes enable banks to quickly identify transactions for efficient remittance.
Accurate Foreign Fund Reporting: Ensures precise tracking and reporting of foreign funds in India.
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FAQs

What is a Purpose Code?+
Why do I need a Purpose Code?+
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Infinity is a product of Scalifi Wealth Pvt. Ltd., a company incorporated in India. Infinity provides global payment services through a technology platform and does not store or hold customer funds. All transactions are processed through licensed banking partners regulated by the Reserve Bank of India (RBI) under the AD-I framework. The platform ensures that funds move securely within fully regulated financial environments at all times.

Cross-border services are facilitated in partnership with licensed financial institutions in their respective jurisdictions, in accordance with local regulatory requirements. Infinity operates as a compliance-first platform, prioritising security, transparency, and user protection in every transaction.