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Executive Summary 2. Objectives

This document provides an overview of foreign exchange services offered by Axis Bank. It discusses key concepts in foreign exchange, including letters of credit and guarantees. It describes the various departments in Axis Bank that handle foreign exchange and the processes for conducting international trade transactions through methods like import/export letters of credit. It also outlines regulations on inward and outward remittances and covers topics such as Exchange Earners Foreign Currency accounts and SWIFT transactions.

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Samarth Pallavi Siddharth
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4K views

Executive Summary 2. Objectives

This document provides an overview of foreign exchange services offered by Axis Bank. It discusses key concepts in foreign exchange, including letters of credit and guarantees. It describes the various departments in Axis Bank that handle foreign exchange and the processes for conducting international trade transactions through methods like import/export letters of credit. It also outlines regulations on inward and outward remittances and covers topics such as Exchange Earners Foreign Currency accounts and SWIFT transactions.

Uploaded by

Samarth Pallavi Siddharth
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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1. EXECUTIVE SUMMARY 2. OBJECTIVES 3.

INTRODUCTION
3.2: NEED FOR FOREIGN EXCHANGE 3.3: MEANING OF FOREIGN EXCHANGE 3.4: FOREIGN EXCHANGE MARKETS 3.5: PARTICIPANTS IN FOREIGN EXCHANGE MARKETS 3.6: FOREIGN EXCHANGE IN INDIA

4. ORGANISATION PROFILE
4.2: HISTORY AND CERTAIN CORPORATE MATTERS 4.3: BUSINESS OVERVIEW 4.4: KEY MILESTONES 4.5: CURRENT AFFAIRS 4.6: VISION 4.7: MISSION

5. FOREIGN EXCHANGE IN AXIS BANK


5.1: VARIOUS DEPARTMENTS IN FOREX IN AXIS BANK

6. LETTERS OF CREDIT
6.1: MEANING: 6.1.2: FLOW DIAGRAM OF LETTER OF CREDIT 6.2: ADVANTAGES: 6.2.1: To the Exporter 6.2.2: To the Importer 6.3: DISADVANTAGES: 6.4: TYPES OF LETTERS OF CREDIT 6.4.2: IRREVOCABLE LETTER OF CREDIT 6.4.3: REVOLVING LETTER OF CREDIT 6.4.4: TRANSFERABLE LETTER OF CREDIT 6.4.5: BACK TO BACK LETTER OF CREDIT 6.4.6: RED CLAUSE LETTER OF CREDIT 6.4.7: GREEN CAUSE LETTER OF CREDIT 6.4.8: PAYMENT LETTER OF CREDIT 6.4.9: DEFERRED PAYMENT LETTER OF CREDIT 6.4.10: ACCEPETANCE LETTER OF CREDIT 6.4.11: NEGOTIATION LETTER OF CREDIT 6.4.12: CONFIRMED LETTER OF CREDIT 6.4.13: STANDBY CREDIT 6.5: IMPORT LETTERS OF CREDIT: COMPLIANCE OF REQUIREMENTS 6.6: TRADE CONTROL REQUIREMENTS 6.7: FEMA GUIDELINES

6.8: CREDIT NORMS

7. GUARANTEES
7.2: TYPES OF GUARANTEES 7.2.1: BID BOND 7.2.2: PERFORMANCE GUARANTEES 7.2.3: ADVANCE PAYMENT GUARANTEE 7.2.4: GUARANTEES RELATED TO PROJECT / SERVICE EXPORTS 7.2.5: GUARANTEE ON BEHALF OF NRIs LOAN OUTSIDE INDIA 7.3: ISSUES OF GUARANTEES 7.4: FEMA REGULATIONS 7.5: PROCEDURES

8. INWARD REMITTANCE
8.1: INTRODUCTION 8.2: EXCHANGE CONTROL PROVISION 8.3: ENCASHMENT OF TRAVELLER CHEQUES SECURITY FEATURES 8.4: PRECAUTIONS TO BE TAKEN DURING ENCASHMENT 8.5: DELEGATED AUTHORITY 8.6: REPORTING TO DEALING ROOMS 8.7: DESPATCH OF TC 8.8: PURCHASE OF FOREIGN CURRENCY 8.9: PROCEDURE FOR ENCASHMENT 8.10: PROCEDURE TO BE FOLLOWED BY THE FOREX DEALING BRANCHES

9. OUTWARD REMITTANCE
9.1: INTRODUCTION 9.2: GENERAL GUIDELINES 9.3. A: RESTRICTIONS 9.3.1: PROHIBITION 9.3.2: PRIOR APPROVAL OF GOVERNMENT OF INDIA 9.3.3: PRIOR APPROVAL OF RESERVE BANK OF INDIA 9.3. B: RELEASE OF FOREIGN EXCHANGE FOR SMALL VALUE REMITTANCES: 9.3. C: ADVANCE REMITTANCE FOR OUTWARD REMITTANCES 9.3. D: UNDERTAKING/CERFICATE REGARDING PAYMENT OF INCOME TAX 9.3. E: FOREIGN TRAVEL 9.3. F: MISCELLANEOUS REMITTANCES 9.4: PROCEDURE FOR OUTWARD REMITTANCE (CORPORATES) 9.5: REMITTANCE PROCEDURE 9.6: REPORTING OF THE TRANSACTIONS

10. SWIFT
10.2: MAIN FEATURES OF SWIFT 10.3: MAJOR MESSAGE TYPE 10.4: CHARGES 10.5: CODES 10.6: PROCESS 10.7: NOSTRO ACCOUNTS 10.8: BASIC SWIFT MT NUMBERS

11. EXCHANGE EARNERS FOREIGN CURRENCY (EEFC) ACCOUNT


11.1: PERMISSIBLE CREDITS INTO THE HOLDERS ACCOUNT 11.2: PERMISSIBLE DEBITS INTO HOLDERS ACCOUNT

13. CONCLUSION AND RECOMMENDATIONS 14. BIBLIOGRAPHY


14.1: REFERENCE BOOKS 14.1: WEBSITES VISITED

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