Foreign Exchange
With the rapidly changing economic scenario, we felt that the co-operative sector should not trail behind in foreign exchange business. In order to meet up the customers expectations, the bank obtained the “Authorised Dealer’ Category II license” from Reserve Bank of India, for undertaking foreign exchange business.
The International Banking Division in accordance with RBI, FEMA, FEDAI directives. Offers following products to its various constituents and its constant endeavor shall be to provide them better and faster services.
As being Authorized dealer category II license holder, we have been incorporating our business through The Maharashtra State Co operative Bank Ltd and HDFC bank
- Preshipment / Postshipment Credit
- Establishment of foreign letter of credit, payment of bills received on collection basis, advance remittance. (Trade Remittances)
- Purchase and sale of foreign currency notes URL LINK to FOREX EXCHANGE FACILITIES FOR RESIDENT INDIVIDUALS
- Inward and outward remittances. I.e. Education Free, Medical Treatment Abroad, Travelling, Maintenance of Family residing abroad, under Liberalized remittance scheme, etc. URL Link to Inward and outward remittances
- Issuance of Demand Drafts in various foreign currencies
- Issuance of Bank Guarantee on behalf of exporters
- Opening of Non Resident Accounts-Non- Resident (Ordinary) Account, Non-Resident (External) Rupee Account URL to NRE and NRO accounts