Foreign Exchange Regulation Act 1947, Guidelines of Foreign Exchange Transactions

Foreign Exchange Regulation Act 1947, Guidelines of Foreign Exchange Transactions What is Foreign Exchange? Foreign exchange is the conversion or exchange of one country’s currency into another currency.  Foreign exchange also refers to the global market where currencies are traded virtually around-the-clock. The term foreign exchange is usually abbreviated as […]

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KNOW YOUR CUSTOMER (KYC)

KNOW YOUR CUSTOMER (KYC) KNOW YOUR CUSTOMER (KYC): The adoption of effective Know Your Customer (KYC) program is an essential part of financial institutions’ risk management policies. Having sufficiently verified/corrected information about customers ―Knowing Your Customer (KYC) – is the most effective defense against being used to launder the proceeds […]

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