KOCHI: State Bank of Travancore (SBT) has launched a Forex Advisory Centre at its Commercial Branch at Ravipuram, offering free advisory and counselling service to businesses across the State on matters related to foreign exchange.
“Under the initiative, named the Regional Treasury Marketing Unit (RTMU), the bank will provide market updates twice daily to corporates, manufacturers and small businesses. The updates will be useful to business entities having foreign exchange exposure, either through imports or exports. It is the first advisory centre to be opened by any bank in the State, on a no-fee basis. The centre will cater to advisory requirements of both SBT customers and non-customers,” said the bank in a statement.
The centre was inaugurated by SBT chief general manager S Adikesavan. The advisory services, especially on the Dollar-Rupee movements and the forward premium changes, will also be available to non-resident Keralites for remittance purposes.