FOREIGN EXCHANGE AND INTERNATIONAL BANKING SERVICES
Canara Bank entered Forex arena in 1953 with the opening of its first Foreign Exchange Department in Mumbai.
We finance exports at pre-shipment stage as well as post sh ipment stage, which can be availed either in foreign currency or Indian Rupees.
In addition we facilitate forfaiting. That is, discounting of deferred export receivabl es on 'without recourse basis' from an overseas f orfaiting agency.
Canara Bank is pioneer in financing of LC based International Trade transactions in India.
The Bank not only finances at customers option in foreign currency at pre-shipment and post-shipment stages at LIBOR re lated rates but also finance the import leg in foreign currency where imported inputs are re quired for exports.
The Bank has the expertise in handling project exports of good s and services.
The Bank has an excellent worldwide correspondent relationship and have the capability to handle any export, import, remittance and related transactions anywhe re in the world and in any currency.
Non fund based transactions like adding con firmations to LC, issuing inward and outward Bid bonds & guarantees, establishing LCs f or import into India, arranging buyer's credit at attractive term s etc. are our forte.
The Bank has an integrated Treasury with a for ex dealing room located in Mumbai in India. Our London branch has a dealing room of i ts own. We are active in the Indian forex market as well as in Overseas forex market. We prov ide a whole range of services and products like purchase and sale of 7 world currencies, forward b ookings and other forex hedging instruments like currency swaps.
The above services are offered at attractive cost to the customers of the Bank subject to the Bank's policies and exchange control / FEMA provisions laid down by the Regulatory Authorities from time to time.
Our 16 Foreign Departments located in major cities in India have the requisite expertise to guide you and inform you in any matter connected with our products and services as well as the current forex regulations.
The Bank has Forex Relationship Managers stationed in the metro cities exclusively for this purpose.
For any further information please contact our office at the following address:
NRI SERVICE CENTRE,
NRI & MI (FOREX) DIVISION,
Integrated Treasury Wing,
Mumbai - 400 021.
Tel: +91 22 22871523
Fax: +91 22 22872369