Reserve Bank of India has granted Authorized Dealer Category II Licence to our Bank in March, 2016.
As per this Licence, our Bank is authorized to undertake Non-Trade related Current Account transactions (17 types of transactions) including all the activities permitted to Full Fledged Money Changers.
We are authorized to deal in Foreign Currency (Buying and Selling) and issuance of Forex Prepaid Cards to meet customer needs as per their demand.
We have also received a permission to open and maintain NR (E) Accounts in Rupees at our existing following branches:-
1. Kalwa , Thane
2. Naupada, Thane
3. Majiwade, Thane
4. Parsik Nagar, Kalwa , Thane
5. Kanjurmarg ,Mumbai
6. Airoli Sector -5, Navi Mumbai
7. Nerul Nagar,Navi Mumbai
8. Kharghar, Navi Mumbai
9. Karave ,Navi Mumbai
11. Vashi ,Navi Mumbai
12. Panvel ,Navi Mumbai
16. Ichalkaranji Main Branch, Kolhapur
17. Margaon ,Goa
18. Mapusa, Goa.
NRE Accounts may be opened in the form of Saving/Current/Recurring and Fixed Deposits. The account can be opened singly or jointly with other NRIs.
NRE Term Deposit are accepted for maturities between minimum 1 year and maximum 10 years. Indian students studying abroad can open NRE Account if they go abroad for uncertain period for studies.
Nomination Facility is available in respect of individual NRI Account holder.