Forex accounts india floods


Forex accounts india floods


Remittance, foreign exchange andRBI Publication, April 7, 1999Exchange control regulations in India, for travel and other purposes have ondia substantially liberalised in recent times. Residents can now freely draw foreign exchange for various purposes through Authorised Dealers (ADs). forex accounts india floods Full details of exchange control regulations are given in Exchange Control Manual (Vol.I).

Brief particulars of the foreign exchange facilities frequently required by resident individuals are narrated below. For the sake of convenience and easy reference relevant paragraphs of the Exchange Control Accpunts have been indicated acvounts brackets against each facility. It will ask banks to reveal their exposures both in Indian rupees and foreign exchange. This accounting policy will replace the practices laid down in 1987.At present, banks convert their foreign currency assets and liabilities into rupees on March 31 of every year and show them in the balance sheet.

Now the plan is to ask banks to also show the acutal assets and liabilities in foreign currency.




Forex accounts india floods

Forex accounts india floods


Add a comment

Your e-mail will not be published. Required fields are marked *