OUTWARD REMITTANCES  Outward Remittances Outward Remittances An Outward Remittance is a transfer of money in foreign exchange, by a resident in India or an NRI to a beneficiary situated outside the country (except for Nepal and Bhutan) for a purpose as approved under FEMA (Foreign Exchange Management Act). Khanna forex offers a convenient and well equipped International fund transfer service. We have correspondent banking arrangements with reputed International banks across the globe for all major currencies. Now, Remit money abroad to your loved ones for more than one reason: Maintenance of close relative, Education, Medical purpose, Gifting or Donation etc.