2023-10-18 14:38:56
New Delhi: A grouping of consultants and service providers in the country has urged the finance ministry to stop routing foreign currency deals in India via the US banking system to avoid transaction fees and save foreign currency. At present, a transaction fee is levied on transactions in US dollars done from one exchange earners foreign currency account to another within the country, Intercontinental Consultants and Technocrats (ICT) Chairman K K Kapila said in a statement.
By routing the transactions through the American banking system, the country is losing substantial money, which is going to the Americans as transaction costs, he said.
“To my mind, as long as we are transacting in US Dollars within India, there should be no transaction cost payable to the US,” he added.
1698087697
#Stop #routing #foreign #currency #transactions #avoid #fees #Consultants
Related posts:
Bitcoin correction may continue, $60,000 is the next key level for purchases
They seek to solve instability problems in irrigation canals in Ñuble – La Discusión
2024-02-22 18:...
Signature of an agreement between the BDL and SATIM for local data processing
International call for investors for the Great Sea Interconnector
- 2024-04-14 10:24:36
Cambridge Analytica: Facebook agrees to pay 725 million
when the boss by divine right returns to the meeting of his court in Versailles – Liberation
Is anyone right with the economic forecasts?
US unemployment rate in April 3.4%, 0.1%p lower than the previous month-Xinhua