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Basics of FOREX Part - 1 | For Bank Promotions and Bank Jobs

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This video by Vinay Agarwal in Hindi is on Basics of FOREX . It is the first video of the series on Foreign Exchange Business. Foreign exchange business in India is governed by Foreign Exchange Management Act 1999, popularly known as FEMA 1999. The Reserve Bank of India administers FEMA and is the regulator for movement of Foreign Exchange . RBI authorises entities to conduct Foreign Exchange Business . These entities are called Authorised Persons . RBI issues directives pertaining to foreign exchange business under AP DIR Series. The Authorised Persons that are authorised to do all types of Forex transactions are called Authorised Dealer category I , in short AD I . These are banks . The association of foreign exchange dealers namely Foreign Exchange Dealers Association of India is a non profit company under Companies Act 1956 . FEDAI issues important guidelines to conduct forex business . The movement of foreign exchange is monitored by RBI while the movement of goods in international trade is monitored by the Customs department . The Customs department functions under Ministry of Finance . The Directorate General of Foriegn Trade , under Ministry of Commerce issues Foreign Trade Policy, FTP, every five years . It also issues importer exporter code (IEC) which is a prerequisite to import or export . The international body of customs, World Customs Organisation , have formulated a Harmonised System of codes for all types of merchandise . India has adopted these codes as Indian Trade Clarification for Harmonised System of codes ITC (HS).
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Text Comments (20)
kiran gandhi (3 hours ago)
forex is legal in India? Can Indian trade in forex
Vivek Sukhadiya (1 month ago)
sir forex trading leagel in india
UMESH MIGLANII (2 months ago)
Thanks
priyanka upadhyay (2 months ago)
Sir kindly makr lecture on rbi circular on export and import also
Anvee H (4 months ago)
very good video, also watch a video on same topic @ https://www.youtube.com/watch?v=1A5q8ghDBvU&t=201s !! Thankyou!!
Vishwa deepak Kumar (4 months ago)
Thanks alot sir
Axay Choudhary (5 months ago)
How to apply for trade and forex department In banks
cuckoo (5 months ago)
sir m an mba frm mumbai....i am working under chartered accountant in bank treasury dept as an concurrent auditor......i want to work in a banks treasury department's back office as banks employee....how can i apply....what shall i do.....plz advice...thanks
Vinay Agarwal (5 months ago)
cuckoo Thanks for your query. I think you should pursuie CFA or FRM and try know more how integrated Treasuries of Banks function. All the best👍
Glenn Weinstein (6 months ago)
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Meena Beri (9 months ago)
Sir Please please add examples video on how the bank set margin in current account foreign exchange
MAHAVEER CHANDEL (10 months ago)
I live in Jaipur and iibf kha pr h
Vinay Agarwal (10 months ago)
mahaveer chandel IIBF stands for indian institute for banking and finance. If you are not a bank employee you can see the syllabus and buy the relevant book for certificate exam conducted by IIBF to gain knowledge without requiring to take the test.
MAHAVEER CHANDEL (10 months ago)
forex ke liye koi course hota h kya please reply..
Vinay Agarwal (10 months ago)
mahaveer chandel if you are in India you may go for certificate exam conducted by IIBF
jogendra singh (1 year ago)
How many currencies are presented in foreign exchange reserve of RBI?
Vinay Agarwal (11 months ago)
Foregn Currency Assets (FCA) comprise mainly of Securities Issued by Foregn sovereign issuers. Major Part of this is in USD, Euro, Pound Sterling and Yen.  Some part is in form of Deposits with BIS, IMF other Central Banks.However as you know value of  all FCA is measured in USD only.
Ravi Kumar (1 year ago)
Thank You For your Valuable Basic Information Sir... Please explain what is AD - II & AD- III category??
Ravi Kumar (1 year ago)
very nice lecture sir. thank you very much sir!
Rajiblochan Nanda (1 year ago)
Thank You For your Valuable Basic Information Sir...

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