2022 2023 Student Forum > Management Forum > Main Forum

28th July 2016, 02:23 PM
Super Moderator
Join Date: Aug 2012
Re: United Bank of India BD

United Bank of India, one of the major public sector banks in India has a strong presence in the foreign exchange market, has a representative office at Dhaka Bangladesh.

It is the only bank assigned to facilitate Indo Myanmar trade in India.

The modern state-of-the-art dealing room at its Head Office (H.O) at Kolkata provides the necessary wherewithal to its 51 designated ‘B’ Category Authorized Dealer (AD) branches and 191 “C” category Authorized Dealer (AD) branches across India authorized to handle foreign exchange business of its customers.

It has retained its dominance as a leading market maker both in spot and forward markets, along with foreign exchange markets.

The foreign exchange dealing desk at the H.O is provided with all modern communication facilities and is in the process of linking all its authorized branches via ITMS, to provide on-line quotes for foreign exchange transactions.

Through its large net of authorized branches, it provide to the foreign exchange needs of its customers engaged in export and import trade and the dealing room at H.O. provides rates for conversion of all major world currencies like U S Dollar, Sterling Pounds, Euro, Swiss Francs, Japanese Yen and other exotic currencies.

The services include forgery of foreign currency risks by providing forward covers and various derivatives product, instant encashment of traveler’s cheques and foreign currency notes tendered by the tourists.

Granting of pre-shipment credit in foreign currency and Rupee currency to exporter customers Purchasing/Discounting/Negotiating of export bills Opening of foreign letters of credit for import customers and issue of foreign customers, Execution/ Transmission of Payment Orders through SWIFT, Correspondent relationship with major international Banks

Since most of its AD branches are purposefully situated at places where ample Non-resident Indians are live in, it is in a position to deliver its products promptly and efficiently to its NRI customers.

The range of products includes payment facilities and acceptance of deposits in Indian Rupees (NRE / NRO) and in designated foreign currencies (FCNR).

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