Basics of Foreign Exchange Transactions

Inward and Outward Remittances, NRI Accounts, Foreign Direct Investments, Overseas Direct Investments, Cover Operations

Created by: Somasekhar Vuppuladhadiam
Banker | Corporate Trainer | Author | Content Consultant

What Will I Learn?

• An understanding of the meaning of International Trade and Foreign Exchange
• Meaning of Current account transactions and Capital account transactions
• Various transactions handled by the Bank for the Customers viz., Inward remittances and Outward remittances
• Concepts relating to Inward remittances - NRI remittances, Export transactions, Foreign Direct Investments, External Borrowings, etc.
• Concepts relating to Outward remittances - Liberalized Remittances Scheme for Resident Individuals, NRI (outward remittances), Import transactions, ODIs, etc
• Basic regulatory guidelines relating to all the above transactions.

Requirements

• There are no prerequisites for taking this course. However, the following would be an advantage:
• Anyone with a basic understanding of the Banking functions
• Anyone with some knowledge on the International financial aspects
• Professionals with 1-2 years of experience in Banking seeking to enhance their skills in International Trade & Foreign Exchange
• Professionals with 3-6 months experience in handling International Finance & Foreign Exchange transactions seeking to have a better grasp in the field

Target audience

• Students pursuing Post Graduation and aspiring to enhance their understanding in International Finance
• Chartered Accountants involved in Auditing of Banks
• Bankers aspiring to make a career in International Trade and Foreign Exchange