Bank of India establishes Centralised Foreign Exchange back office in Gift City, Gandhinagar
Bank of India, the premier nationalised Bank, has established its Centralised Foreign Exchange Back Office (FE-BO) in GIFT City Gandhinagar, Gujarat.
cityairnews
May 7, 2022 02:11
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Gandhinagar, May 7, 2022: Bank of India, the premier nationalised Bank, has established its Centralised Foreign Exchange Back Office (FE-BO) in GIFT City Gandhinagar, Gujarat.
A.K.Das, Managing Director & CEO of the Bank inaugurated the new premises of FE-BO in the presence of Swarup Dasgupta, Executive Director of the Bank.
The Bank enjoys large franchise of Indian exporters and importers. To cater to needs of exporters and importers, Bank has a strong network of 45 foreign Branches as well as 250+correspondent banks across the globe in addition to 200+ AD Branches in India.
FE-BO will handle international trade originating from all Branches in India.
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Das stated in his inaugural address that FE-BO will help the Bank in creating expertise and provide one-stop solution to Bank's esteemed customers.
He further added that by gaining experience of pan-India forex business transactions, Incubation Center at FE-BO will design new customer-friendly products. FE-BO will actively engage with customers and share latest regulatory guidelines/international trade practices.
Swaroop Dasgupta, Executive Director, stated while addressing the gathering that the Bank is in process of implementing an end-to-end trade finance solution empowering customers. He further added that this initiative will offer new level of customer experience in trade finance and forex dealing.
Inaugural function was also graced by Monoj Das, Chief General Manager, International Department, Raghvendra Kumar, General Manager, Foreign Business Department and R.M.Pandey, General Manager, NBG-Gujarat.
Hanwant K Thakur, DGM and in-charge of FE-BO while proposing vote of thanks promised to make FE-BO a Centre of Excellence.
