What is Foreign Remittance

What is Foreign Remittance?

What is Foreign Remittance? Definition: Remittance represents transfer of fund from one place to another through official channel. Foreign Remittance: Foreign Remittance refers remittance of Foreign currency that are received in and made out abroad. Foreign Remittance also includes purchase and sale of freely convertible foreign bills and currencies. Types: a)    Foreign Inward Remittance b)    …

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