international wire transfer

Simply a trick by the host bank in India and now u will be having all sort of troubles to send them reminder and ultimately you would be lending yourself to another Consumer"s case and if u treat this to be only a matter of few hundred dollars then bank would be free to enjoy your savings.

But I found many of the Indian Banks in India are far better than multi-national banks in USA.

Regards

The exchange rate of yahoo.com is not applicable to individual banks.  Banks do have their separate system of determining the forex rates.  That depends on their short and long positions in their nostro accounts.  And rates are different for buying, selling, instant buying (TT buying) instant selling (TT selling) and so on..  What rate you have picked up from yahoo.com and whether the same applicable to this transanction is also to be verified.  In your case of repatriation, the rate applicable is TT Selling.  You might have picked-up TT buying rate.  Anyway for a transaction of around Rs.50 lac, rate dispute amounting to around 18000 is not a issue to pursued. Ofcourse it is for you to pursue or leave.  But there is no possible remedies on sight.

Mr. Jaggarao:  Where does one find the rates you are referring to?  Especially for time past.  For example, March 28, 2011.

Thanks:

Mr.Cunicoindy, in India, individual banks prepare their rates every morning basing on the market movements and also their short/long positions.  They prepare card rates and flassh them to the branches dealing with forex and also keep on their website.  But on the website only latest one day rates are available.  Apart from the card rates, the branches do obtain special rates for their valued customers from their dealing room as they are supposed to report any buying/selling of forex in bulk by obtaining a special rate from their dealing room.  Hence there will be small variable among the rates quoted by different authorised dealers (say Banks) and variable depends upon their position, value of the transaction and value of the customer.  If you are keen to know the rate on the day the transaction took place, you better contact the branch through which you have repatriated Indian currency and the card rate and rate applied to your transanction.   But it will not help you any way except for sake of knowledge.  Banks have freedom to determine the forex rates ofcourse basing the daily rates announced by RBI within a band.