EXPORT BILL REDISCOUNTING:
Bank of Baroda offers financing of export by way of bill discounting of export bills to provide post shipment finance to the exporters at competitive international rate of interest. This facility is available in -4 currencies i.e. US$, Pound Sterling, Euro and JPY.
Terms and conditions:
- Export bills (both Sight and Usance) can be purchased/ discounted provided they comply with the norms of the Bank/ RBI.
- All exporters are eligible to cover the bills drawn under L/C, non-credit bills under sanctioned limits under the Bill discounting Scheme.
Bank provides various types of funding/ services to the importers for facilitating the imports in the country. All the facilities are subject to the prevalent rules of the Bank/ RBI guidelines.
The various facilities provided are:
- Collection of import bill.
- Opening of Import L/Cs (Sight/ DA).
- Financing of import by way of Foreign Currency Loans.
- Issuing Guarantees etc. on behalf of importers.
COLLECTION OF IMPORT BILLS:
The import bills are collected through the 95 authorised branches at very competitive rates. The Bank has correspondent relationship with reputed International Banks throughout the world and can provide the services to importers who may be importing from any part of the globe.
LETTER OF CREDIT:
Bank of Baroda offers L/C facility for the purchase of goods in the international market. Being a well-known international Bank of repute, the L/Cs of the Bank of Baroda are well accepted in the International market.
With the Letter of Credit of Bank of Baroda, importers can build up better trust/ confidence in their suppliers and develop other business relationship at a much faster pace.
The vast network of Bank's overseas branches/ subsidiaries and Correspondent Banks world-wide facilitate prompt & efficient services to the importers.
The L/C facility can be granted to the importers after assessing their requirement/ credit worthiness/ financial strength and other parameters being to the satisfaction of the Bank.
BANK GUARANTEES:
Bank of Baroda on behalf of importers/ other customers issues guarantees in favour of beneficiaries abroad. The guarantees can be both Performance and Financial.
The extensive world wide network of branches of the Bank offer correspondent banking services to the Indian Banks as well as Banks from other countries.
The branches are capable of providing the services that an international correspondent Bank can offer. All the branches of the Bank are well equipped to handle the business of Correspondent Banking.
The New York, Brussels and London Branches of the Bank are equipped with latest technology and are having trained and experienced staff for handling the maintenance of Nostro accounts in US$, Euro and GBP respectively.
The overseas presence of the Bank is further supported by a large number of correspondent Banks (more than 500) which gives Bank of Baroda access to every corner of the Globe.
The main services provided are:
- Collection of bills both Documentary and Clean.
- Advising / confirming of L/Cs opened by Indian Banks.
- Discounting of Bills drawn under L/Cs as well as outside L/Cs.
- Maintenance of foreign currency accounts (Nostro in US$, Euro, GBP at New York, Brussels and London respectively) for settlement of transactions (Link).
- Making foreign currency payments/ remittance on behalf of customers of Indian Banks.
Bank of Baroda offers an excellent service with competitive charges to other Banks for providing Correspondent Banking Services.
Bank of Baroda through its overseas branches and subsidiaries, is very active in financing of Usance post sales international trade bills by way of discounting of the same.
With its large foreign currency resources, Bank of Baroda is in a position to offer the most competitive rates for discounting of these bills.
The bills under the L/Cs of the most of the Indian Banks as well as International Banks can be discounted at competitive rates.
The Banks/ Corporations desirous of discounting the bills under/ outside L/Cs can contact the respective overseas money center branches / overseas subsidiaries.
They may also contact the International Division, Central Office at the following address:
Corporate Office
Bank of Baroda,
Baroda Corporate Centre,
International Division,
Plot No C - 26, G - Block, Bandra East, Mumbai 400 051
Chief Manager (International)
Tel. No. : 0091-22-5698 5411 / 5000
Fax : 00-91-22- 2652 3509 / 5756
Bank of Baroda has a strong presence in the Treasury Market in India as well as abroad.
Abroad, Money Centre Branches undertake the foreign exchange treasury operations on behalf of the customers. All the foreign exchange treasuries at the overseas money center branches are equipped with state of art technology, highly experienced and motivated staff with professional skills. These branches deal in all the major international currencies i.e. US$, GBP, Euro, Yen as well as other currencies. These branches undertake the following treasury related activities:
- Forex Inter Bank Placements/ Borrowings.
- Sale & Purchase of currency on behalf of customers.
- Forward Cover Bookings.
- Cross Currency Swaps.
- Interest Rate Swaps (IRS).
- Forward Rate Arrangements (FRAs).
- Forex Money Market Operations.
For further details, please contact the Bank of Baroda Branch nearest to you.
