How to Encash Foreign Currency Drafts in India?
A demand draft is a written order for making payment. It is very similar to a cheque, the only difference being that a signature is not required for it to be encashed. A foreign currency draft is one where the recipient or the sender is staying abroad. To send money to someone staying in India, a foreign currency draft is a very good option. The main reason is that it is very economical. Generally the cost of making one is less and if we chose a suitable bank the charges are further reduced.
