FIRC - Key Considerations

Overview

When processing payouts to India, Tazapay generates a Foreign Inward Remittance Advice (FIRA) in compliance with the Reserve Bank of India (RBI) regulations.

The Purpose Code selected during the payout request determines:

How the transaction is classified under RBI guidelines.
The type of FIRA that will be generated.
Whether the payout is successfully processed or rejected.

⚠️ Important:

FIRCs/FIRAs are generated strictly based on the Purpose Code chosen at the time of processing.
They cannot be edited or revised later.
Incorrect purpose code selection may result in RFIs (Requests for Information), delays, or outright rejection of the payment by banking partners.

How Purpose Codes Work in Tazapay

Tazapay provides a set of Tazapay Purpose Codes (PYRxxx) that merchants can choose from when initiating a payout.
Each Tazapay Purpose Code is mapped to a valid RBI Purpose Code, ensuring compliance.
The mapping includes restrictions on Remitter Type and Beneficiary Type, (where applicable).

For full details of valid codes, refer to Purpose Codes Valid for India Payouts.

Best Practices for Using Purpose Codes

Identify the exact nature of the transaction (goods, software, services, tax, etc.).
Select the correct Tazapay Purpose Code (PYRxxx) at the time of payout initiation.
Avoid generic selections – the wrong code can cause compliance flags.
Cross-check remitter and beneficiary types – certain codes are restricted to individuals only, corporates only, or a combination.

Key Compliance Notes

FIRAs are generated only once, based on the original purpose code.
No edits or re-issuance are allowed post-transaction.
Incorrect selection may lead to:
- RFIs (bank asking for more information)
- Delays in processing
- Rejection of payment

✅ By following the correct Tazapay Purpose Code → RBI Purpose Code mapping, your India payouts will remain compliant, seamless, and avoid unnecessary delays.