Means of payment in India

Collection

Exports to India

  • Documentary Credit:
    the safest method. Requires authorisation of the Reserve Bank of India.
  • Collection:
    these are usually remittances with sight draft or payment
  • Advance payment:
    only authorised companies can make these on condition that they meet certain requisites.

Payment

Imports from India

  • Documentary Credit:
    bank payment commitment.
  • Collection:
    management of commercial paper