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Forex in banking, FAQs on RBI guidelines on FEMA and Foreign Exchange Transactions. How to guide on various bank remittance details and solution to customer queries.
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NRE account to saving account Transfer – You can transfer money from your NRE account to any account However, you cannot transfer money from your normal savings account to NRE account. In order to transfer from a NRE account to a Indian domestic savings account. Just add the payee as NEFT or RTGS payee and […]
Post Punjab National Bank (PNB) Fraud the Reserve Bank of India (RBI) has banned the use of letters of undertaking (LoUs) and letters of comfort (LoCs). RBI has issued the fresh directives on issuance of LoUs and LoCs for Banks in India. Banning of instruments may raise the cost of imports by up to half a percentage […]
Learn Easy way to submit FATCA Form to Banks/Financial Institution – Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standards (CRS) guidelines and detailed analysis. Basically , This is an agreement between India and USA to compile with any unreported foreign transaction. The details of FATCA will be shared with US tax authority and […]
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