Indian Rupee (INR) Reimbursements

Overview

Ramp supports Indian Rupee (INR) reimbursements for multinational companies with employees in India. With INR reimbursements on Ramp, you can reimburse employees in INR directly from your Indian bank accounts.

INR reimbursements

With INR Reimbursements, your company prefunds an INR balance on Ramp, and approved employee reimbursements are automatically paid out in INR from that balance.

Note: INR Reimbursements with a prefunded account are only available on the Enterprise plan.

Setting up INR reimbursements

To enable INR Reimbursements, an admin must complete the following steps:

1. Navigate to Settings > Entities and select your Indian entity (or create a new one).
2. Choose INR Prefunded Account as the reimbursement payment method.

• You'll see the option: "Fund the Prefunded Account with your INR bank account. Reimbursements will be paid in INR."

3. Complete the required KYB (Know Your Business) verification when prompted + accept the required legal agreements. You can track your KYB status on the entity settings page.
4. Once KYB is complete and agreements are accepted, your INR Reimbursement Account will be provisioned and appear on your Financial accounts tab.

Funding your reimbursement account

Before reimbursements can be paid out, you need to prefund your INR Reimbursement Account:

1. Go to Financial accounts and select your INR Reimbursement Account.
2. Click Deposit funds , then click See NEFT details to view the transfer information.
3. You'll be shown the NEFT transfer details for your Ramp account, including the Holder (legal entity name), IFSC code , Account number, Beneficiary address , and Bank name .
4. Add and verify your Indian bank account as a funding source by clicking the three dots > Account settings.

• Note: Ramp only accepts INR NEFT transfers from verified accounts you add in the account settings.

5. Initiate a NEFT transfer from your Indian bank account to the Ramp account details shown.
6. Once the funds arrive, your Total balance and Available balance will update on the account page.

How employees submit and get paid

For employees at an Indian entity:

1. The employee links their personal Indian bank account in Ramp, including their Account holder name , Account number , and IFSC code .
2. The employee submits a reimbursement request in Ramp and selects INR as the currency.
3. The reimbursement goes through your company's normal approval workflow.
4. Once approved, Ramp automatically pays the employee in INR from your prefunded balance. No manual payout step is needed.

Low balance alerts

To make sure reimbursements aren't delayed, you can set up low balance alerts:

1. Go to your INR Reimbursement Account in Financial accounts .
2. Open Settings for the account.
3. Set a Low balance alert threshold in INR. When your available balance drops below this amount, you'll receive a notification to add more funds.

When your balance is low, a banner will appear on the Reimbursements page alerting you to deposit additional funds. Approved reimbursements in your Indian entity will be automatically paid from this account, so keeping a healthy balance ensures timely payouts to your team.

Customer onboarding

Stage 1: Entity Information (KYB)

Actor: Any authorized Ramp user (US Admin or Indian Delegate). Goal: Capture unique identifiers to verify entity against government portals.

1. Company Identifiers (User Input - Plain Text)

• Company Legal Name (Ops note: must match MCA/GST records exactly)
• Registered Address (City, State, Zip)
• CIN (Corporate Identity Number, 21-character alphanumeric)
• GST Identification Number (GSTIN) (15-character alphanumeric, PAN extracted from chars 3–12)

Stage 2: Individuals

Actor: Any authorized Ramp user. Goal: Identify Authorized Signatories and Beneficial Owners. Collect identity documents for verification and sanctions screening.

1. Define Individuals. For each individual, capture:

• Full Name
• Title
• Email
• Phone
• Date of Birth
• Role (Authorized Signatory or Director / Beneficial Owner / Both)
• Residential Address

Beneficial Owner = individual owning >10% shares/capital, per PMLA Rules 2023.

2. KYC (Per Individual)

• PAN: Mandatory when residential address is in India. Optional otherwise. Validation: 10 characters (5 letters, 4 numbers, 1 letter).
• Passport Copy: Required.

Stage 3: Bank Account Selection

Actor: Any authorized Ramp user. Goal: Identify and select a company bank account as required by Ramp’s reimbursements flow of funds.

USD-Funded INR reimbursements

Ramp also supports INR reimbursement payouts funded from your company’s linked USD bank account.

With this option:

• Employees submit reimbursements in INR as usual.
• Once approved, Ramp debits your company’s linked USD bank account via direct debit, and then initiates the INR payout to the employee.

Note: USD-funded INR reimbursements are available on Free, Plus, and Enterprise plans.