CHENNAI : As a part of its initiative to enhance the Non-Resident Indian (NRI) business, Indian Bank—Chennai North Zone organised an NRI meet on Thursday. “We have as many as 100 authorised banks spread across the country, who cater to the needs of Forex customers. A centralised trade processing unit (forex hub) is being set up to process all trade finance transactions to improve specialisation, speed and accuracy in processing,” said K Sridhar, assistant general manager of international division.
He further added that the bank will offer Exchange earners’ foreign currency account (EEFC) so that exporters can keep their earnings in foreign currency, use the funds for import payments or convert it into Indian currency. Bank officials said they were maintaining a correspondent relationship with 143 banks across the globe and that they maintain nostro accounts in 10 currencies with 20 international banks for accurate and speedy remittance system.
Later in the meeting, clarifications were given to the queries of NRIs along with assurance for improvement in services and products as requested by the customers. Also, the gathering assured to bring in new clients with their contacts.