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Can Exchange Houses draw drafts in foreign currencies?

April 26, 2017currencies drafts draw exchange foreign houses

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Can Exchange Houses draw drafts in foreign currencies?

7 Answers

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Yes. Exchange House can draw drafts in US dollars or Pound sterling on a limited number of branches of the drawee bank in India, if they have entered into such an arrangement with the drawee bank.

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• Yes. Exchange House can draw drafts in U.S.dollar or Pound sterling on a limited number of branches of the drawee bank in India, if they have entered into such an arrangement with the drawee bank. • Can NRIs remit funds through Exchange Houses for investment in Government securities, National Savings Certificates and Units of Unit Trust of India? • Yes. • Can NRIs remit funds through Exchange Houses for investment in shares/debentures of Indian companies? • Yes, subject to general/specific permission of Reserve Bank for such investment. • Can NRIs send drafts issued by Exchange Houses for acquisition of residential flats in India? • Yes. NRIs can send drafts issued by Exchange Houses in favour of co-operative housing societies/estate develops for acquisition of residential flats in India in individual names. • Can NRIs remit premia on policies issued by the Life Insurance Corporation of India by means of drafts issued by Exchange Houses in favour of the Corporation? • Yes. • Can NRIs

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Yes. Exchange Houses can draw drafts in US Dollars or Pound Sterling on a limited number of branches of the drawee bank in India, if they have entered into such an arrangement with the drawee bank.

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Posted

Ans. Yes. Exchange Houses can draw drafts in US dollar or Pound sterling on a limited number of branches of the drawee bank in India, if they have entered into such an arrangement with the drawee bank.

0

Posted

Yes. Exchange House can draw drafts in U.S.dollar or Pound sterling on a limited number of branches of the drawee bank in India, if they have entered into such an arrangement with the drawee bank.