Bank of Maharashtra Request for sending funds through SWIFT

Bank of Maharashtra Request for sending funds through SWIFT Form Download

The attached document is a formal “Request for sending funds through SWIFT” application form addressed to the Assistant General Manager of the Bank of Maharashtra (p. 1). It utilizes the standardized SWIFT MT-103 format (p. 1), which is the global protocol for a Single Customer Credit Transfer. [1, 2, 3, 4]

The key points of the document are structured below across its core operational, legal, and financial components:

1. Transaction & SWIFT Message Fields (Page 1)

This section captures the essential technical routing and payment tags needed to process an international wire transfer (p. 1):

33 B (Currency & Instructed Amount): Specifies the foreign currency and the exact volume of funds to be transferred (p. 1). [5]
50 K (Ordering Customer Details): Mandates the sender’s full identity, including Name, Address, Account Number, and Contact Details (p. 1).
56 A (Intermediary Institute): Holds routing data (IBAN/BIC/SWIFT Code) for any intermediary clearing bank if a direct relationship between banks does not exist (p. 1). [5]
57 A (Account with Institute): Houses the target Beneficiary Bank Details and its corresponding SWIFT code (p. 1). [6]
59 A (Beneficiary Customer Details): Captures the ultimate recipient’s final Account Number, Name, and physical Address (p. 1).
70 & 71 (Remittance Details): Space provided for text payment references, remittance details, and clear instructions indicating who bears the transfer charges (Sender vs. Beneficiary) (p. 1). [7]

2. Legal Disclaimers & Liability Limits (Page 2)

The bank establishes several operational terms that the remitter implicitly accepts by signing (p. 2):

Routing Autonomy: The Bank of Maharashtra reserves the right to select any correspondent bank partner or communication stream it deems fit to fulfill the order (p. 2).
Liability Exclusions: The bank explicitly states it is not responsible for any delays, communication failures (radio/telecom errors), or disruptions caused by Indian or foreign government agencies (p. 2).
Refund Restrictions: If a transfer is cancelled or compromised, a refund will not be issued to the sender until the foreign correspondent bank returns the funds and confirms cancellation (p. 2).
Remitter Risks: All expenses, capital losses, and foreign exchange currency fluctuation risks associated with the transfer are absorbed entirely by the sender (p. 2).

3. Regulatory Compliance & Declaration (Page 2)

Because this is an outward international remittance from India, strict statutory mandates apply (p. 2): [8]

FEMA 1999 Compliance: The sender must sign a statutory declaration under Section 10(5), Chapter III of the Foreign Exchange Management Act (FEMA), 1999 (p. 2).
Anti-Evasion Oath: The customer officially certifies that the financial transaction is not designed to evade or contravene any Indian foreign exchange law, rule, or regulatory order (p. 2).
RBI Reporting Power: The text explicitly notes that if a customer refuses to provide verified paperwork, the bank must reject the transaction in writing and report suspected evasions directly to the Reserve Bank of India (RBI) (p. 2).
The Schedule Box: A finalizing verification block requiring the clear purpose of the transfer, the amount, the remitter’s authorized company signature/seal, and the date of execution in Pune (p. 2).