FOREX: Foreign exchange is also called forex in short
Foreign exchange refers to exchanging the currency of one country for another at prevailing exchange rates.
Different countries have different currencies. Foreign exchange converts the currency of one country into another.
Foreign Exchange Services
We are pleased to inform you that our bank has received permission from the Reserve Bank of India to undertake Foreign Exchange Business and activities as applicable to Authorized Dealers under Category –II.
We can facilitate the purchase/sale of foreign exchange for the following non-trade account transactions:
- Private Visits
- Remittance by tour operators/travel agents to overseas agents/principals/hotels
- Business Travels
- Fee for participation in global conferences and specialized training
- Film Shooting
- Medical Treatment Abroad
- Overseas Education
- Employment and job application fees
- Visa Fees
- Registration/Membership fees to international organizations
NOTE: AML & KYC norms apply to the sale and purchase of foreign currency.