Foreign Exchange Business

Bank of Baroda undertakes various types of Foreign Exchange Transactions viz.,

1. Foreign Inward Remittance,
   
   
2. Foreign Outward Remittance,
   
   
3. Exchange Earners' Foreign Currency A/c. (EEFC)
   
   
4. Resident Foreign Currency A/c. (RFC)
   
   
5. Import Business
   
   
6. Export Business
   
   
7. Forward Contracts
   
   
8. FCNR (B)
   
   
9. ECB Loans
   
   
10. Arranging Debt / Floating Rate Notes / Quasi Debt instruments like Foreign Currency convertible bonds.
    
    
11. Providing consultancy and financial solutions for setting up joint ventures and wholly owned subsidiaries.
    
    
12. Arranging credit facilities / End to End Financial packages for overseas projects of Indian companies
    
    
13. Issue of guarantees for overseas projects.
    
    
14. Buyer's Credit
    
    
15. Suppliers Credit
    
    
16. International Merchant Banking Cell (IMBC) has been established at International Division to meet the expectations of corporates.
    
    

NRI Accounts

We will provide you details of the services, exchange rates and charges that apply to foreign exchange transactions. If you want to transfer money abroad, we will tell you how to do this and will give you a description of the services and how to use them. If money is transferred to your bank account from abroad, we will tell you the original amount received and charges,if any.

Bank has got 103 authorized branches doing International business in India. These branches are having SWIFT facilities. Bank of Baroda with its wide network of Overseas Branches spread over 19 countries serves Non-resident Indians with a wide range of deposits and investment banking services. At present, the Bank has 57 branches/offices and 9 branches of joint venture overseas.

Deposit schemes offered by Bank of Baroda to Non-resident are given below:

Deposit Products

Foreign Currency Linked Rupee Deposits (FCLR) Scheme

Foreign Currency Denominated Non-resident Fixed Deposits (FCNR-FD)

Non Resident External (NRE) (RUPEE) Savings Account

Non Resident External (NRE) (RUPEE) Current Account

Non Resident External (NRE) (RUPEE) Fixed Deposits

Non Resident Ordinary Rupee Savings Account (NRO-SB)

Non Resident Ordinary Rupee Current Account (NRO-CA)

Non Resident Ordinary (NRO) (RUPEE) Fixed Deposits

Resident Fgn Currency A/c - for NRIs returning to India for settling in India

Resident Foreign Currency (Domestic) Account - for Resident Indians

Loan Facilities to NRIs

Loans/Overdrafts Against Security of Non-Resident (RUPEE) Fixed Deposits

Loans Against FCNR (B) Deposits in Rupees

Loan Against FCNR (B) Deposits in Foreign Currency in India

Housing Loans to NRIs

Loan Facilities in Foreign Currency to Residents

Foreign Currency Loans In India (FCNR 'B' Loans)

Pre-Shipment/Post-Shipment Credit in Foreign Currency to Exporters

External Commercial Borrowing

> Our Commitment and Responsibilities
> Common Practices followed by our Branches
> Safeguards
> Common areas of Customer – Banker relationship
> Time - Norms for various banking transactions
> Extended Banking Hours
> Customer Communication
> Banking Ombudsman Scheme, 2006
> Redressal of Complaints
> Other customer centric initiatives