Send money from the UK to Maharashtra
Maharashtra receives more money from abroad than any other Indian state. Here is today's pound to rupee rate, what you need to pay into a bank account in Mumbai, Pune or anywhere else in the state, and the times of year when families send the most.
Written by Sonic Wallet editorial team · Last reviewed: 1 November 2026
Key facts
- On 2 Nov 2026, 06:10 GMT, £1 was worth ₹127.19 at the mid-market rate.
- Maharashtra received 20.5% of the money India received from abroad in 2023-24, the largest share of any state or union territory, according to the Reserve Bank of India.
- Sonic Wallet sends pounds from the UK to bank accounts in Maharashtra.
- The main language is Marathi.
- Popular times to send extra money: Ganesh Chaturthi, Diwali and Gudi Padwa.
Rate last updated:
How many rupees will arrive?
Mid-market rate: £1 = ₹127.1934. Converted at the mid-market rate, before any fee or margin. You will see the exact fee and exchange rate before you confirm a transfer.
Send money to IndiaSending money to a bank account in Maharashtra
State Bank of India, HDFC Bank, ICICI Bank and Kotak Mahindra Bank all have their head offices in Mumbai, and Bank of Maharashtra is based in Pune. Co-operative banks are also widely used across the state.
Whichever bank the recipient uses, you need their name as the bank has it, their account number and the IFSC of their branch. Our guide to Indian bank details explains where to find each one.
Dena Bank, which was based in Mumbai, merged into Bank of Baroda on 1 April 2019. Former Dena Bank branches now have Bank of Baroda IFSC codes, so ask the recipient for their current details.
Busy times for sending money to Maharashtra
- Ganesh Chaturthi: August or September
- Diwali: October or November
- Gudi Padwa: the Marathi New Year, in March or April
If the money needs to arrive by a particular day, send it a few days early, so there is time to sort out any problem with the bank details. Our analysis of the best time to send money to India looks at how the pound to rupee rate moves.
Maharashtra's share of India's remittances
Maharashtra received 20.5% of the money India received from abroad in 2023-24, the largest share of any state or union territory, according to the Reserve Bank of India.
| State | 2016-17 | 2020-21 | 2023-24 |
|---|---|---|---|
| Maharashtra | 16.7% | 35.2% | 20.5% |
Maharashtra's share was even higher in 2020-21, at 35.2%, when many workers in the Gulf returned home during the pandemic and the shares of states that depend on Gulf earnings fell.
The Reserve Bank of India notes that Maharashtra, Telangana and Punjab send the largest numbers of students abroad who then stay on to work.
The UK is one of India's biggest sources of money from abroad: 10.8% of the remittances India received in 2023-24 came from the UK, up from 6.8% in 2020-21, according to the Reserve Bank of India.
The Reserve Bank of India's figures cover money sent for family maintenance and savings, and local withdrawals from non-resident deposit accounts.
Marathi speakers in the UK
Mumbai is India's financial centre, and many British Indian families, students and professionals have ties to the city, to Pune and to the rest of the state.
Marathi is the official language of Maharashtra. Hindi and English are also widely used, especially in Mumbai.
Read about sending money to India in Marathi: मराठी
Frequently asked questions
How much money is sent to Maharashtra from abroad?+
Maharashtra received 20.5% of all the money India received from abroad in 2023-24, the largest share of any state, according to the Reserve Bank of India's remittances survey. Its share was 35.2% in 2020-21 and 16.7% in 2016-17.
My family banks with Dena Bank. Can I still send money to them?+
Yes. Dena Bank merged into Bank of Baroda on 1 April 2019, so former Dena Bank branches now have Bank of Baroda IFSC codes. Ask the recipient for the current IFSC from their cheque book, passbook or banking app before you send.
Can I send money to a co-operative bank in Maharashtra?+
Usually, yes. Many co-operative banks have their own IFSC codes and take part in NEFT and IMPS. Ask the recipient to confirm the IFSC with their bank, because some smaller co-operative banks receive payments through a larger partner bank.
When do people send the most money to Maharashtra?+
Many families send extra money before Ganesh Chaturthi in August or September, Diwali in October or November, and Gudi Padwa, the Marathi New Year, in March or April.
Sending money to other states
Useful tools and guides
Sources
- Changing Dynamics of India's Remittances: Sixth Round of India's Remittances Survey (2023-24), Reserve Bank of India Bulletin, March 2025
- NEFT frequently asked questions, Reserve Bank of India
- List of NEFT-enabled bank branches and their IFSCs, Reserve Bank of India