Banks: who can take your EDF, and how

Canonical summary of research notes research/06a–06e (4 Oct 2026). Machine-readable data: priv/reference_data/banks/*.json, loaded by Easylancing.Banks and shown in the app (EDF workspace, Settings, public /learn/banks).

1. Which banks can receive export proceeds and EDFs

• The EDF goes to the “specified authority”, which for services is the AD Category-I bank (or STPI for software units; FEMA 23(R)/2026-RB Reg. 2(1)(f), 3(2)). The regulations don’t say which AD bank. The prevailing reading, and the product’s default, is the AD bank where the export proceeds land. This is a default, not a rule (KB 00, 90-Q1: UNCERTAIN), so the product says “usually” and suggests confirming with the bank.
• RBI does not publish a single fetchable list of AD Category-I banks. The master index (127 entries) was assembled from:
  • RBI’s “Banks in India” page, for the banks and their *.bank.in domains;
  • FEDAI’s member list (Feb 2026), for AD Cat-I status. This is strong but indirect evidence, so most statuses are labelled REPORTED;
  • bank and exchange filings, which are VERIFIED. Examples: AU, Equitas and Jana AD-I grants; Axis, HDFC and ICICI export documents.

Product rule: where research sources disagree, take the conservative answer (“not AD” beats “uncertain”, which beats “AD”). A curated override covers Jana (see Easylancing.Banks).

2. How banks are handling the services EDF (as published by 11 Oct 2026)

• No bank publishes an email address specifically for services EDFs. None says that retail savings-account customers can use its trade portal.

• The common pattern is to submit at the home branch or an AD/forex branch (the branch forwards it to a central processing unit) or through the relationship manager. Business customers can also use trade portals (ICICI Trade Online/CIB, HDFC trade desk or digital channel, SBI e-Trade, BoB SmartTrade, Indian Bank IND Trade NeXT, HSBC DigiTrade).

• Earlier deadline at some banks (VERIFIED from their Reg. 19 policies): SCB, HSBC and Bank of America expect the EDF on or before the date the money arrives, not only within 30 days of month-end. HSBC asks for full EDF details within 10 working days if the money arrives first.

• HDFC has its own services format (VERIFIED, re-read 2026-10-11): “Request letter for Export of Services & EDF Filing Cum Disposal Instructions for Credit” (PDF created 30 Sep 2026, hdfc.bank.in …/pdfs/exports/edf-request-letter-tf-product.pdf). It carries the RBI Part 1 fields and a four-row Part 2B table (“for more than 1 invoice, use annexure”), plus: account to be credited, purpose code, exchange rate/forward contract, customer PAN, a charges-debit account, contact, OFAC declaration, FEMA declaration-cum-undertaking, Declaration 4 and Part 5. Its sample shows “Regular Export”, “Non dispatch” and “Custom (DTA units)” (list values not published). The free generator prints it, then the RBI form (ADR-028).

• ICICI’s EDF (VERIFIED, PDF created 1 Oct 2026) is the RBI form; its “Category of Exporter” option reads “Others (Specify e.g. Individual, trust)”. This answers 90 Q17 for individuals: “others: Individual”.

• SBI (VERIFIED, customer guide effective 1 Oct 2026): no separate EDF layout; checklist = request letter in SBI’s format with FEMA declarations (not published), service agreement/SOW, invoices, EDF, proof of service; EDF certification T+1; IEC (active on ICEGATE) a prerequisite.

• PNB, Canara, Bank of Baroda (re-read 2026-10-11): PNB’s policy (IBD Forex Circular 69/2026, PDF 29 Sep 2026, VERIFIED): EDF to the AD branch for upload to EDPMS; Trade Finance Centres process; inward remittances at ISB New Delhi; AD branch may extend EDF submission by up to 6 months; the policy still says SOFTEX continues where the exporter approaches STPI (stale against the regulations). Canara (framework 17 Sep 2026, VERIFIED): no export policy or EDF text; inward remittances need a request with FEMA declarations and a disposal instruction, and funds may be returned after 7 business days without a reply. BoB (cross-border page, VERIFIED): no EDF format or FEMA 23(R) policy; Category B branches upload to TFBO Bengaluru/Gandhinagar; BarodaINSTA SmartTrade. All three: use the RBI form.

• Banks with their own EDF formats or annexures: Axis “Annexure 6” and DBS “Annexure 1” are the RBI Annex form itself (DBS re-read 2026-10-06: same Parts 1–5 and verbatim Part 4), so the standard EDF serves both. RBL has a policy annex (not re-read). SCB publishes an EDF Upload Template (20 columns, re-read 2026-10-06; easylancing generates it for SCB accounts, with “Supplier Name”/“Country of Origin” read as the foreign client and “Due Date” left blank, to confirm with the RM). IndusInd, IOB and DBS ask for an invoice-wise annexure with a consolidated monthly EDF (easylancing generates one, reconciled to the EDF total).

• IEC: SBI’s customer guide lists an IEC as a prerequisite. Bank of Maharashtra wants an IEC copy on record. KVB tells branches to “validate IEC”. HDFC’s cross-border framework says IEC is needed for all exports, while its FEMA policy limits that to goods (conflicting). Bandhan’s pre-October checklist requires an IEC. Safe advice: get an IEC (₹500 on DGFT; its number is your PAN) before your first EDF.

• Typical documents:

  • request letter or covering letter;
  • signed EDF;
  • invoices showing the SAC;
  • contract, SOW or PO, or a “gist of invoices” (RBL);
  • FIRA or credit advice for invoices already paid (IOB);
  • proof of service delivery (SBI, DBS).

• Inward remittances: many banks do not auto-credit services export receipts. They ask the customer to declare the purpose and send documents. Some return the funds if there is no reply (Canara: after 7 business days). Paperwork-free limits differ by bank:

  Bank	Paperwork-free limit
  Punjab & Sind	USD 1,000
  Union	USD 5,000
  Indian Bank	USD 10,000
  UCO	USD 20,000 (personal)

• Charges seen (indicative):

  • KVB: ₹250 per EDF attestation.
  • Kotak: from 12 Oct 2026, 0.075% (minimum ₹1,500) “software and service handling”.
  • HSBC (corporate tariff): ₹200 per invoice for software exporters.
  • FIRA/FIRC fees: e.g. Kotak ₹250, Federal ₹500.

• Stale figures inside bank documents: TMB’s and IOB’s policies still mention 15 months for realisation in places. The law since the 22 Sep 2026 amendment is 9 months (12 months for INR), so we show the law, not the bank’s stale text.

3. Payment services: which bank settles, and where the EDF goes

From settlement_routes.json (research 06e). For PA-CB and platform receipts, the prevailing guidance is to file the EDF with your own bank, where the INR lands. The exception is Razorpay with ICICI, which needs an EDF number before payment capture.

4. Open questions

• Which bank holds Wise’s Indian export collection account.
• Retail access to trade portals; email channels.
• PAN-without-IEC acceptance, bank by bank.
• Bank of India, Central Bank, IDBI, YES, Federal and AU procedures: not found. Their sites block automated access or have published nothing.
• Re-check monthly: banks are still publishing Reg. 19 SOPs.

Change log

• 2026-10-04: first version from research 06a–06e.
• 2026-10-05: §1 first bullet reworded. “File with the bank where the money lands” is a default, not a rule (review finding).
• 2026-10-11: §2 HDFC request-letter format, ICICI category “Individual”, SBI checklist (bank PDFs re-read; 90 C18). Bank form pages at /edf-form (ADR-028).
• 2026-10-11: PNB, Canara and Bank of Baroda notes; /edf-form pages for them.