State Bank of Travancore (SBT) launched a Forex Advisory Centre here on Friday to provide free services, including advisories and counselling, on aspects related to foreign exchange.
An official release claimed that it’s the first such centre to be opened by any bank in the State on a no-fee basis and will cater to the advisory requirements of both SBT customers and others. The centre will be located at the commercial branch of SBT in Ravipuram and its services will be available over phone, e-mail and personal visits.
S. Adikesavan, Chief General Manager, SBT, inaugurated the centre. The centre’s advisory services, especially on the dollar-rupee movements and the premia changes, will also be available to the Non-Resident Keralites for their remittance purposes. The bank’s market share in remittances is over 40 per cent, the release said.
The Regional Treasury Marketing Unit initiative of the SBT will provide market updates twice daily to corporate, manufacturers and small businesses having foreign exchange exposures either through imports or exports. The officials at the unit will provide guidance on the availability of cheaper options of funding through foreign currency loans, including External Commercial Borrowings, primarily through international trade credit.
