FOREX SERVICES

• All our 251 branches are authorized to open and maintain Non-Resident Deposit account.

• Our FOREX services delivered through 17 Authorized “B” Category branches (link).

• Our staff members are skilled and dedicated to offer you best and timely services.

• We deal in 9 major currencies and have correspondent relationship with the leading banks globally.

List of our Authorized branches:

1) Ahmedabad
2) Bangalore Main
3) Mumbai fort
4) Coimbatore Main
5) Cathedral Road, Chennai
6) Chennai Main
7) Dindigul
8) Gandhidham
9) Hyderabad Main
10) Janpath, New Delhi
11) Karur West
12) Panruti
13) Salem Town
14) Sivakasi
15) Tenkasi
16) Tiruppur
17) Trichy Main.

 Exports:

• Rupee Pre-shipment Credit

It is available to exporters for financing purchase, processing, manufacturing or packaging of goods prior to shipment.

It will be extended against
a) Letter of Credit opened in favour of the exporter.
b) The confirmed order for the export of goods.

The period of preshipment credit will be based on the time required for procuring/ manufacturing the goods intended for exports.

The pre-shipment credit outstanding will be liquidated by negotiation of bills covering shipment of goods.

  Post Shipment Export Credit:

• We extend Post shipment credit by purchasing / discounting / negotiating export bills.
• Post shipment finance is also extended against bills sent on collection basis..
• Post shipment credit should be liquidated by the proceeds of export bills received from abroad in respect of goods exported.
• Pre shipment credit in Foreign Currency (PCFC)
• Pre shipment Credit in Foreign Currency can be availed to meet the manufacturing,
• processing and packing credit requirements at LIBOR linked rates.

• We offer Exporter Gold Card Scheme to meet the working capital needs of exporters with a good track record and credit worthiness, subject to their fulfilling the specified eligibility norms.

IMPORTS:

Import Letters of Credit

We offer Letters of Credit to facilitate purchase of goods in the international market.

Facility can be availed through any of our authorized branches.

Letters of Credit will be advised through our correspondents overseas.

Import of goods will be subject to adherence to FEMA guidelines and Foreign Trade Policy in force.

Our authorized branches can assist you in availing any of the following remittance facilities by way of release of foreign exchange/ outward remittance.

Private visits

Business travel

Fee for participation in global conferences and specialized training.

Medical treatment abroad

Overseas education

Remittance towards fee for examination held in India and abroad for GRE, TOFEL etc.

Employment and processing assessment fees for overseas job application
Emigration

Maximum eligible amount under each category mentioned above will be subject to FEMA guidelines in force.