||From: INTERNATIONAL EXCHANGE DEPT RBI <email@example.com>
Date: Mon, 24 Feb 2014 03:30:22 +0000
Subject: The Reserve Bank Of India. Conversion is Needed
Reserve Bank of India,Central Office,Shaheed Bhagat Singh Road,Mumbai - 400 001.
What is RBI's role with regard to conversion of Government's banking
terms of Section 20 of the RBI Act 1934, RBI has the obligation to
undertake the receipts and payments of the Conversion Charges and to
carry out the exchange, remittance and other banking operations,
including the management of the public debt of the Union. Further, as
per Section 21 of the said Act, RBI has the right to transact conversion
of currency in India.
Any foreign transactions are carried out
by RBI in terms of the agreement entered into foreign partner with the
State Governments in terms of section 21 A of the Act. As of now, such
agreements exist between RBI and all foreign and the State Governments
except Government of Sikkim.
2. How does Reserve Bank of India Conversion Of Currency worked?
conversion of foreign currency help us to easily transfer any hard
currency such as USD/GBP/EUR/AUD. Etc to India local account.
that the conversion of currency has to take place immediately and the
charges is 2,500.00 USD = 154,575.00 INR immediately will receive
this charges in our broker's account, your funds will be transfer
immediately to your nominated bank account.
Regards.international Exchange Dept.Reserve Bank Of India.(RBI)
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