If I receive any cheque in USD from any foreign national or company then, can I encash it in my local bank account (United Bank of India)? Will there be any deductions? If nationalzed banks like UBI are unable to handle this, then what else can one do in such situations?
2006-09-22 21:12:53 · 3 answers · asked by indra707 1 in Business & Finance ➔ Personal Finance
Normally - you can deposit the cheque in your Saving Bank or Current Account with your bank.
If they object, contact nearest RBI branch to collect it.
2006-09-22 21:32:00 · answer #1 · answered by SA-bic 4 · 0⤊ 0⤋
Yes, you have to deposit it in to the credit of your account and furnsih details such as source and purpose of the remittance for RBI purposes
2006-09-23 04:38:59 · answer #2 · answered by jarantar 5 · 0⤊ 0⤋
Ask YOUR bank.
2006-09-23 04:27:26 · answer #3 · answered by madamspinner2 3 · 0⤊ 0⤋