Traveller Cheque HDFC Bank offers American Express Travellers Cheques which are widely accepted at Merchant Establishments

and Financial Institutions across more than 200 countries. American Express Travellers Cheque is a very safe and convenient way to carry money abroad. You can encash them only when you need to, and only against your signature, unlike cash which can be stolen and misused by anybody, immediately. Loss of Travellers Cheque can be reported anywhere in the world by making a single phone and the pre-fixed amount on the cheques are made refundable. Travellers Cheques are offered in 6 major currencies like USD, GBP, EURO, CAD, AUD and JPY. These are available in various denominations to suit your needs.

Indian Currency is the Indian Rupee (Re/Rs). Since you are not allowed to bring in Indian currency, your best option is the airport bank. Indian Rupee notes are printed in denominations of Rs 1000, 500, 100, 50, 20, and 10. The Rupee is divided into 100 Paise. You will see only 1, 2, 5 Rs coins, though coins below 50 paisa are rarely seen. You should keep small denominations notes for the small payments like tips, bus tickets, and meals. When going to a remote area or small town where encashing of travellers cheque will be difficult you can take 1000 Rs and 500 Rs notes, but you should be careful when using them and should not be confused with 100 Rs.

Travelers cheques
Traveller's Cheques issued by reputable companies (eg Thomas Cook, American Express) are accepted without difficulty. Traveler's Cheques exchanged in banks or hotels, and can only very rarely be used directly for Payment. You need identification documents like a passport to be shown. Except in hotels, encashing Traveler's Cheques nearly always takes up to 30 minutes or longer, So it is worth taking larger denomination Traveler's Cheques and changing enough to last for some days. Banks accept both Dollar and sterling. Other major currency Traveler's Cheques are also accepted in some larger cities. If you are traveling to remote areas it is advised that you buy Indian Rupee Traveler's Cheques from a major bank, as these are more widely accepted than foreign currency ones.

Credit cards
Major credit cards are increasingly accepted in the main centers, though in smaller cities and towns it is still rare to be able to pay by credit card. Visa and Master Card have a growing number of ATMs in major cities, but many ATMs only deal with local account holder. HDFC bank have the facility of withdrawing money from you overseas account. You can use their ATM m/s to withdraw money in

Indian Rupee, presently there branches are in Jaipur, Jodhpur and Udaipur only in Rajasthan. Railway Reservation center 17 major cities are now taking payment for train tickets by visa card which can be very quick as the queue is very short.

International transfers
Don't run out of money in India unless you have a credit card against which you can draw traveller's Cheques or cash. You can also use HDFC ATM facility to withdraw money from your overseas account, but there is a limit of Rs 15,000 in a day. Having money transferred through the banking system can be time consuming. It's usually straightforward if you use a foreign/private banks elsewhere it may take a fortnight and will be a hassle. You can also use Western Union for money transfer and they are having agents in Rajasthan. The Financial Year in India is from 1st April to 31st March.

Exchange Rate
1 USD 55.88381 1 Euro 70.84931 1 GBP 87.89112 1 Yen 0.70817 Source: Reserve Bank of India (as on June, 2012)

Cost of travelling
Cost of travelling depends how you spend money, your budget and the comfort level you are looking for. We divide in three categories: 10-12 USD: The cheapest, you stay in dormitories or in cheap hotel, travel by ordinary bus, eat regular Indian food like dhal (curried lentils), roti and rice. 30-40 USD (Budget Travel): Most of the travellers comes in this category. You travel in luxury bus, take auto rickshaws for local transport, stay in reasonable hotel (sometime even in AC rooms, and off beaten heritage hotels), good food. 70-75 USD: You stay in AC rooms, travel in taxi, travel by AC coaches, eat at good restaurants.

We are Authorised stockists of American Express Travellers cheques Travellers cheque is an safe and easy way to protect your money when you are travelling To another country. Travellers cheque is same as bearer cheque. It can also be used Similar to cash for outdood expenditure like shops,hotels and other establishments. MMS Forex provides you with the best purchase and sales rates of travellers cheque. The loss of travelersl cheque can be reported by making a single phone call from any Part of the world , thereby the cheques are refundable. We provide TC of American Express in all major currencies through our network of branches. Travelers Cheques are available in: US Dollar Euro British Pound Sterling Canadian Dollar Australian Dollar These are available in various denominations to suit the customers needs and wants.

EXCHANGING YOUR TRAVELLERS CHEQUES FOR LOCAL CURRENCY There are thousands of banks and foreign exchange locations in countries around the world where you can exchange your Travellers Cheques for local currency. Photo identification may be required. We strongly recommend you retain and carry your original purchase receipt with you when you travel. Commission charges may apply and can vary by country or exchange partner. Exchange limits may apply due to local regulations and exchange policies. USING YOUR TRAVELLERS CHEQUES TO PAY FOR GOODS AND SERVICES You can use your Travellers Cheques like cash to pay directly for products and services at accepting retailers, restaurants, and hotels. Photo identification may be required. We cannot guarantee that all places accept Travellers Cheques as a form of payment.

HOW TO USE YOUR TRAVELLERS CHEQUES Immediately sign each Cheque in the top left corner to help protect yourself in case of loss or theft. Keep separate. Keep your Cheques' serial numbers with you when you travel, but keep them separate from your Cheques. Safeguard your Travelers Cheques as you would a like amount of cash. Countersign. When you are ready to use your Cheques, countersign each Cheque in front of the teller or cashier. WHERE TO USE YOUR TRAVELLERS CHEQUES You can either: Exchange your Travelers Cheques for local currency in your destination, or Use your Travelers Cheques to pay directly for goods and services at accepting retailers, restaurants, and hotels PURCHASE AGREEMENT By buying, signing, accepting and/or using the American Express Travelers Cheques ('Travelers Cheques'), you agree to the terms and conditions below.

I. TRAVELLERS CHEQUES ISSUERS. Travellers Cheques denominated in GBP are issued by Travellers Cheques Associates Limited, a corporation incorporated under the laws of England and Wales; American Express Travel Related Services Company, Inc. is the issuer of Travellers Cheques in all other currencies (i.e., . USD, CAD, AUD, JPY and Euro). For purposes of these terms and conditions, both companies are referred to as 'American Express'.

II. YOUR RIGHT TO REQUEST A REFUND FOR LOST OR STOLEN TRAVELLERS CHEQUES. American Express' obligation to refund lost or stolen Travellers Cheques is NOT UNCONDITIONAL. American Express will, directly or through its servicing agents, subsidiaries, affiliates, and representatives, replace or refund the face value of any lost or stolen Travellers Cheque in accordance with applicable law and only if you meet all of the requirements below and American Express is satisfied about the authenticity of your claim: A. BEFORE LOSS: 1. You must have signed the Travellers Cheques in permanent ink on the space indicated. 2. You must have not countersigned the Travellers Cheques (second signature). 3. You must have not given the Travellers Cheques to another person or company to hold or keep, or as part of a fraudulent scheme. 4. You must have not used the Travellers Cheques in violation of any law, including as part of an illegal bet game of chance, or other prohibited or illegal activity. 5. Your Travellers Cheques have not been taken by court order or by government action

or confiscated by the customs or similar authorities in any country. 6. You must have safeguarded the Travellers Cheques as a prudent person would safeguard a like amount of cash. B. AFTER LOSS: 1. You must promptly notify American Express of the loss or theft of the Travellers Cheques. 2. You must have promptly reported all facts of the loss or theft to the police or relevant government agency. 3. You must promptly provide American Express the serial numbers of the lost or stolen Travellers Cheques and the place and date of their purchase. 4. You must promptly complete the refund forms provided by American Express and provide American Express with acceptable proof of your identity. 5. You must provide American Express all reasonable information and support requested to make a complete investigation of the loss or theft. FOR REFUNDS AND CUSTOMER We're here to help 24 hours a day, wherever Call us immediately for assistance with any of the following: You encounter an issue while trying to use your Cheques A service provider is unfamiliar with how to accept your Cheques To obtain a refund for lost or stolen Cheques Remember to have the serial numbers of your Cheques with you when you call. SERVICE travel.

you

For other locations not listed, please call collect to the USA: +1 801 964 6665 WHEN YOU ARE IN: CALL: NORTH AMERICA Canada 1 866 296 5198 USA 1 800 221 7282 ASIA PACIFIC Australia 1800 688 022 China, Northern 10 800 744 0106 China, Southern 10 800 440 0106 Hong Kong 300 21276 India 1 800 180 1245 Indonesia 021 720 1292 Japan 0120 779 656 Malaysia 0377 124 314 New Zealand 0508 555 358 Philippines 1800 1441 0108 Singapore 1800 823 2090 South Korea 080 779 0880 Taiwan 00801 44 4229 Thailand 001 800 441 0193

LATIN AMERICA,CARIBBEAN Argentina 0800 444 0991 Brazil 0800 891 2614 Caribbean 1 800 221 7282 Chile 1230 020 0549 Colombia 980 912 3054 Costa Rica 0800 011 0826 Guatemala 800 288 0073 Mexico 001 866 247 6878 Panama 001 888 875 0475 Peru 0800 51 531 Venezuela 0800 100 3555 AFRICA, MIDDLE EAST Israel 180 943 8694 South Africa 0800 991 021 UAE 800 0441 9406

EUROPE Austria 0800 232 340 Belgium 0800 80038 Denmark 8020 3002 Finland 0800 9 3313 France 0800 832 820 Germany 0800 101 236 Greece 00800 44 127 5 Hungary 06 800 111 28 Ireland 1800 924 868 Italy 800 914 912 Netherlands 0800 023 Portugal 800 205 598 Russia 8 800 200 2240 Spain 900 810 029 Sweden 0200 11 0453 Switzerland 0800 255 2 Turkey 00800 4491 48 United Kingdom 0800

http://mms-forex.com/trcheques.html http://aathitya.com/tourism/currency.php http://aathitya.com/tourism/currency.php

limit for Traveler cheques and currency? This is a discussion on limit for Traveler cheques and currency? within the Chit Chat forums, part of the RTI Lounge category; I'm vinay from ANDHRA PRADESH, planning for Master's in Australia. My Question is- what’s the limit for Traveler cheques and currency? Some body told me that, limit is 10000$AUD, but ...

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limit for Traveler cheques and currency?

I'm vinay from ANDHRA PRADESH, planning for Master's in Australia. My Question is- whats the limit for Traveler cheques and currency? Some body told me that, limit is 10000$AUD, but some bank people in INDIA are saying there is limit up to 25000$AUD... So for kindly inform me about limit. Some people saying that we need to mention if we carry more then 10000$AUD. if we mentioned, is there any tax for my exceed? And is there any need to submit any documents in INDIAN airport while traveling to AUSTRALIA Me planning to take 14000$ (13500$ worth of traveler cheques and 500$AUD currency). Am I eligible to carry 13500$ worth of traveler cheaques?

Ordering Travellers Cheques

Back to Using Credit Cards Abroad. Ordering your Travellers Cheques or Foreign Currency can be done at most Travel Agents, at The Post Office, Bureau De Change or at your Bank. But they now can also be ordered over the phone or online if you are within the UK and the restrictions are as follows:* Maximum which can be ordered varies from 2,500 to 10,000 * Minimum which ca be ordered varies from 100 to 500 * Commission Rates begin at 0% * Delivery Costs start at 0.00 * Delivery times start at Next Day Delivery (if ordered before 3pm) to 3 Working Days * Buy back options are also available

Where will Online or Over the Phone Orders be Sent?

You can choose where your cheques are to be sent eg: a Post Office Branch of your choice or to your home address, and orders can be made up to 1 Year in advance though most companies limit this to 5 working days in advance. For orders placed over the phone or online after 3pm they would be available in 2 working days and orders placed on a Saturday or Sunday would normally be ready after 1pm on the following Tuesday (except on Bank Holiday Weekends where they would be available from 1pm on the following Wednesday).

Ordering over the Counter

When ordering Travellers Cheques or Currency over the counter there are a number of places who are able to process your order immediately, this includes some Post Office branches (known as On Demand Branches). You may be restricted as to how much can be ordered in any one day and for example the Post Office restrictions are:* 2600 Dollars and Euros or * 3600 Euros only Dependant on if the branch you go to is a On Demand branch or a Full on Demand Branch. You can check which Branches are On Demand or Full On Demand on the Post Office website. If you request Travellers Cheques or Currency over the counter at a Currency Provider who does not offer an On Demand service, you should expect it to be available as per the online and over the phone options, ie: 1pm the following working day if ordered before 3pm. If you choose to cancel your order, you could be subjected to a cancellation charge so always consider this if after ordering your Currency or Travellers Cheques you find a provider who is offering a better rate and decide to go there instead. Travellers Cheques are available in Euro, Sterling and US Dollars and are welcomed across the world.

http://www.prudentminds.com/ordering-travellers-cheques.html http://www.rtiindia.org/forum/20031-limit-traveler-cheques-currency.html

2. TREASURY BILLS AND DATED SECURITIES

Treasury Bills are the instruments of short term borrowing by the Central/State govt. They are promissory notes issued at discount and for a fixed period. These were first issued in India in 1917. Objectives These are issued to raise funds for meeting expenditure needs and also provide outlet for parking temporary surplus funds by investors. Investors Treasury bills can be purchased by any one (including individuals) except State govt. These are issued by RBI and sold through fortnightly or monthly auctions at varying discount rate depending upon the bids. Denomination Minimum amount of face value Rs.1 lac and in multiples there of. There is no specific amount/limit on the extent to which these can be issued or purchased. Maturity : 91 days and 364 days. Rate of interest Market determined, based on demand for and supply of funds in the money market. Other features These are highly liquid and safe investment giving attractive yield. Approved assets for SLR purposes and DFHI is the market maker in these instruments and provide (daily) two way quotes to assure liquidity. RBI sells treasury bills on auction basis (to bidders quoting above the cut-off price fixed by RBI) every fortnight by calling bids from banks, State Govt. and other specified bodies. DATED SECURITIES These are those instruments which have tenure over one year. The returns on dated securities are based on fixed coupon rates akin to corporate bonds. These are considered risk free. 3. FOR MORE DETAILS AND LATEST TOPICS OF INTEREST TO BANKERS YOU CAN

http://bankingindiaupdate.com/treasurybills.htm
Treasury Bills are money market instruments to finance the short term requirements of the Government of India. These are discounted securities and thus are issued at a discount to face value. The return to the investor is the difference between the maturity value and issue price. Types Of Treasury Bills There are different types of Treasury bills based on the maturity period and utility of the issuance like, ad-hoc Treasury bills, 3 months, 6 months and 12months Treasury bills etc. In India, at present, the Treasury Bills are issued for the following tenors 91-days, 182-days and 364-days Treasury bills. Benefits Of Investment In Treasury Bills No tax deducted at source Zero default risk being sovereign paper Highly liquid money market instrument Better returns especially in the short term Transparency Simplified settlement High degree of tradeability and active secondary market facilitates meeting unplanned fund requirements. Features Form The treasury bills are issued in the form of promissory note in physical form or by credit to Subsidiary General Ledger (SGL) account or Gilt account in dematerialised form. Minimum Amount Of Bids Bids for treasury bills are to be made for a minimum amount of Rs 25000/- only and in multiples thereof. Eligibility: All entities registered in India like banks, financial institutions, Primary Dealers, firms, companies, corporate bodies, partnership firms, institutions, mutual funds, Foreign Institutional Investors, State Governments, Provident Funds, trusts, research organisations, Nepal Rashtra bank and even individuals are eligible to bid and purchase Treasury bills. Repayment The treasury bills are repaid at par on the expiry of their tenor at the office of the Reserve Bank of India, Mumbai. Availability All the treasury Bills are highly liquid instruments available both in the primary and secondary market. Day Count For treasury bills the day count is taken as 365

days for a year. Yield Calculation The yield of a Treasury Bill is calculated as per the following formula: (100-P)*365*100 Y = -----------------P*D Wherein Y = discounted yield P= Price D= Days to maturity Example A cooperative bank wishes to buy 91 Days Treasury Bill Maturing on Dec. 6, 2002 on Oct. 12, 2002. The rate quoted by seller is Rs. 99.1489 per Rs. 100 face values. The YTM can be calculated as following: The days to maturity of Treasury bill are 55 (October 20 days, November 30 days and December 5 days) YTM = (100-99.1489) x 365 x 100/(99.1489*55) = 5.70% Similarly if the YTM is quoted by the seller price can be calculated by inputting the price in above formula. Primary Market n the primary market, treasury bills are issued by auction technique. CALENDAR OF AUCTION FOR TREASURY BILLS Treasury Bill Day of auction Day of payment 91 day Every Wednesday Following Friday 182 day Wednesday preceding thenonReporting Friday Following Friday 364 day Wednesday preceding the reporting Friday Following Friday Salient Features Of The Auction Technique The auction of treasury bills is done only at Reserve Bank of India, Mumbai. Bids are submitted in terms of price per Rs 100. For example, a bid for 91-day Treasury bill auction could be for Rs 97.50. Auction committee of Reserve Bank of India decides the cut-off price and results are announced on the same day. Bids above the cut-off price receive full allotment; bids at cut-off price may receive full or partial allotment and bids below the cut-off price are rejected. Types Of Auctions There are two types of auction for treasury bills: Multiple Price Based or French Auction: Under this method, all bids equal to or above the cut-off price are accepted. However, the bidder has to obtain the treasury bills at the price quoted by him. Uniform Price Based or Dutch auction: Under this system, all the bids equal to or above the cut-off price are accepted at the cut- off level. However, unlike the Multiple Price based method, the bidder obtains the treasury bills at the cut-off price and not the price quoted by him. Secondary Market & Palyers The major participants in the secondary market are scheduled banks, financial Institutions, Primary dealers, mutual funds, insurance companies and corporate treasuries. Other entities like cooperative and regional rural banks, educational and religious trusts etc. have also begun investing their short term funds in treasury bills. Advantages Market related yields Transparency in operations as the transactions would be put through Reserve Bank of Indias SGL or Clients Gilt account only Two way quotes offered by primary dealers for purchase and sale of treasury bills. Certainty in terms of availability, entry & exit Treasury Bills - An Effective Cash Management Product Treasury Bills are very useful instruments to deploy short term surpluses depending upon the availability and requirement. Even funds which are kept in current accounts can be deployed in treasury bills to maximise returns Banks do not pay any interest on fixed deposits of less than 15 days,or balances maintained in current accounts, whereas treasury bills can be purchased for any number of days depending on the requirements. This helps in deployment of idle funds for very short periods as well. Further, since every week there is a treasury bills auction, one can purchase treasury bills of different maturities as per requirements so as to match with the respective outflow of funds. At times when the liquidity in the economy is tight, the returns on treasury bills are much higher as compared to bank deposits even for longer term. Besides, better yields and availability for very short tenors, another important advantage of treasury bills over bank deposits is that the surplus cash can be invested depending upon the staggered requirements. Example : Suppose party A has a surplus cash of Rs 200 crore to be deployed in a project. However, it does not require the funds at one go but requires them at different points of time as detailed below: Funds Available as on 1.1.2000 Rs. 200 crore Deployment in a project Rs. 200 crore As per the requirements 6.1.2000 Rs. 50 crore 13.1.2000 Rs. 20 crore 02.2.2000 Rs. 30 crore 08.2.2000 Rs. 100 crore Out of the above funds and the requirement schedule, the party has following two options for effective cash management of funds: Option I Invest the cash not required within 15 days in bank deposits The party can invest a total of Rs 130 crore only, since the balance Rs 70 crores is required within the first 15 days. Assuming a rate

of return of 6% paid on bank deposits for a period of 31 to 45 days, the interest earned by the company works out to Rs 76 lacs approximately. Option II Invest in Treasury Bills of various maturities depending on the funds requirements The party can invest the entire Rs 200 crore in treasury bills as treasury bills of even less than 15 days maturity are also available. The return to the party by this deal works out to around Rs 125 lacs, assuming returns on Treasury Bills in the range of 8% to 9% for the above periods. Portfolio Management Strategies Strategies for managing a portfolio can broadly be classified as active or passive strategies. Buy And Hold A buy and hold strategy can be described as a passive strategy since the Treasury bills once purchased, would be held till its maturity. The salient features of this strategy are: Return is fixed or locked in at the time of investment itself. The exposure to price variations due to secondary market fluctuations is eliminated. There is no risk of default on maturity. Buy And Trade This strategy can also be described as an active market strategy. The returns on this strategy are higher than the buy and hold strategy as the yield can be optimised by actively trading the treasury bills in the secondary market before maturity. Read more at: http://www.caclubindia.com/forum/treasury-bills-an-overview98443.asp#.UF_RwbLiZxU

http://www.caclubindia.com/forum/treasury-bills-an-overview-98443.asp#.UF_RwbLiZxU

3.commercial paper
4. We can define Commercial Paper (CP) as an "unsecured money market instrument issued in the form of a promissory note". These are not usually backed by any form of collaterals and is allowed to be issued only by corporate with high quality debt ratings. 5. 6. 7. When was Commercial Paper introduced in India and What is the Commercial Paper used for in India ? 8. Commercial Paper were introduced in India in 1990 with a view to enable high rated corporate borrowers to raise short term borrowers by this additional type of instrument which was till that at time was not available in India. However, later on other players like All India Financial Institutions and Primary Dealers too were allowed to issue Commercial Papers for meeting their short term funding requirements

Commercial Paper (CP) in India

COMMERCIAL PAPER DEFINITIONS :

1. Commercial paper is an unsecured and discounted promissory note issued to finance the short-term credit needs of large institutional buyers. Banks, corporations and foreign governments commonly use this type of funding. 1. An unsecured, short-term debt instrument issued by a corporation, typically for the financing of accounts receivable, inventories and meeting short-term liabilities. Maturities on commercial paper rarely range any longer than 270 days. The debt is usually issued at a discount, reflecting prevailing market interest rates. 2. An unsecured and unregistered short-term obligation issued by an institutional borrower to investors who have temporarily idle cash. 3. Short-term, unsecured, discounted, and negotiable notes sold by one company to another in order to satisfy immediate cash needs. COMMERCIAL PAPER IN INDIA: INTRODUCTION: It was introduced in India in 1990 with a view to enabling highly rated corporate borrowers/ to diversify their sources of short-term borrowings and to provide an additional instrument to investors. ISSUER OF COMMERCIAL PAPER: Corporate, primary dealers (PDs) and the All-India Financial Institutions (FIs) are eligible to issue CP. ELIGIBILITY CRITERIA FOR ISSUING COMMERCIAL PAPER: A corporate would be eligible to issue CP provided 1. the tangible net worth of the company, as per the latest audited balance sheet, is not less than Rs. 4 crore 2. company has been sanctioned working capital limit by banks or all-India financial institutions 3. the borrowal account of the company is classified as a Standard Asset by the financing banks/ institutions. To summaries the above discussion on commercial paper

CPs are issued by companies in the form of usance promissory note, redeemable at par to the holder on maturity. The tangible net worth of the issuing company should be not less than Rs.4 crores. Working capital (fund based) limit of the company should not be less than Rs.4 crores. Credit rating should be at least equivalent of P2/A2/PP2/Ind.D.2 or higher from any approved rating agencies and should be more than 2 months old on the date of issue of CP. Corporates are allowed to issue CP up to 100% of their fund based working capital limits. It is issued at a discount to face value. CP attracts stamp duty. CP can be issued for maturities between 15 days and less than one year from the date of issue. CP may be issued in the multiples of Rs.5 lakh.

No prior approval of RBI is needed to issue CP and underwriting the issue is not mandatory. All expenses (such as dealers fees, rating agency fee and charges for provision of stand-by facilities) for issue of CP are to be borne by the issuing company