Tax treatment of foreign fees from a foreign student

Hi,

I would love to know if there exists any method by which an institution can collect fees from foreign students and can change to Indian Rupees by their own means?

Also can a money exchange unit can be set up if the proportion of students from abroad is more.

Please give your suggestions and share your knowledge on the same if possible. Its really important to me and Iv gone through the internet and FEMA but Im not able to get the correct points regarding the same.

Thank you in advance