Global Markets - Business

Forex

As India's leading forex provider, we offer unparalleled expertise, competitive rates, and secure platforms to fulfil forex hedging and remittance needs of both individuals as well as businesses.

With a dominant market share in the forex merchant transactions, we offer a comprehensive suite of forex and derivative solutions designed to meet the diverse needs of our customers.

Our Forex offerings: -we provide an extensive range of forex services to cater to both individuals and businesses: -

For Corporates: -

• Competitive exchange rates for all the tenors viz., Spot, Forwards etc.,
• Sale and Purchase of Gold in Spot / Forward
• Comprehensive range of structured products including exotic derivatives like barrier option etc.
• Currency Swaps / Options, Swaptions etc.
• Various Online Channels to cover Forex transactions with live streaming of rates.

We have specialized desks which cater to various forex products viz., Spot, Forwards, Cross currency forex transactions and Structured Products etc. Each desk is managed by experts who focus on specific market segments, ensuring that our clients receive the best possible solutions and exchange rates for their unique needs.

We have a dedicated team of professionals, Merchant Desk, that engages with corporates to provide them market insights and execute deals over telephone or through other e-platforms. This ensures that our clients are always well informed and can make timely and informed decisions for their forex needs.

For Individuals: -

• Foreign Currency Exchange: - Competitive rates for buying and selling foreign currencies.
• Forex Cards: Prepaid travel cards in multiple currencies, offering a secure and convenient way to manage expenses abroad.
• Liberalized Remittance Scheme (LRS) Transactions: -A dedicated platform Fx-Out for outward remittance transactions. Fx-Out is accessible through all our branches and online, ensuring a seamless experience depending on whether customers prefer in-person assistance or the convenience of digital transactions.

What differentiate us from others:

• Market Leadership: - We are the biggest market maker in inter Bank Forex market. Also, the biggest bank in terms of counterparty limits across the banking industry, it leads to better price discovery.
• Vast Network: - We have maximum no of Authorised Branches spread across the country to handle foreign exchange transactions as per Reserve Bank of India guidelines.
• Advanced Technology platform for Forex: - We offer technological solutions for secure and efficient ways to execute customer transactions, which are designed for ease of use. We also stream our exchange rates on various popular e-platforms.
• Dedicated Marketing Team: - We have the largest treasury marketing setup. We have a dedicated team of professionals spread across India to provide hands-on support to the corporate clients in seamless and efficient execution of their transactions.
• Dedicated desk to cover Foreign Portfolio investment related flows.
• Global presence: - We have the biggest presence among Indian Banks abroad.
• Market insights: - Best market research team to provide insights and detailed reports on market events.

Treasury Marketing

Treasury Marketing Group (TMG) under Global Markets vertical, of SBI is responsible for marketing of Bank’s Treasury Products to the Institutional and Corporate clients of the Bank. TMG comprises of 8 Treasury Marketing Units staffed with well-equipped Relationship Managers Treasury (RMTs) and are headed by senior dealing/forex personnel to serve customers better (7 Regional Treasury Marketing Units and 1 Central Treasury Marketing Unit at Mumbai) and 9 Satellite Centres across the country. The locations of TMUs and satellite centres are such that we have presence in all the major economic centres in the country.

We also have a dedicated desk dealing with Foreign (Direct/Portfolio) Investments and Institutional Treasury Sales to provide a seamless experience to FPIs and other Financial Institutions.

Our RTMUs are located at Mumbai, Delhi, Kolkata, Chennai, Bangalore, Hyderabad and Ahmedabad, and Satellite Centres are functioning from Pune, Chandigarh, Ludhiana, Jaipur, Lucknow, Tiruppur, Ernakulam, Visakhapatnam and Bhubaneswar for catering to Corporates located in these geographies.

The contact details for the RTMUs and Satellite centres are as under

  Treasury Related services offered through branches and the integrated dealing room at Mumbai. Forex/Trade and Capital Account Services

Inward and Outward remittances

• Import transactions such as Foreign Letter of Credit, Foreign Bank Guarantee and Standby Letters of Credit
• Advance remittances towards Exports and Export Collections
• Export Financing through PCFC/EBR at competitive rates
• Providing FCNR(B) loans at competitive rates
• Hedging Services for Exporters and Importers through Forwards, LTFX, Options and Swaps.
• Hedging of ECBs and Foreign currency bonds raised by corporates
• Facilitating Capital Account transactions
• Issuance of foreign currency demand drafts
• Purchase and sale of foreign currency / travellers cheque
• Foreign currency cheque collection
• Inward and Outward Remittances through Nostro/ Vostro Account
• Providing customers with updates about the latest market developments, RBI policy actions and regulatory changes.

Rupee Treasury

• Providing Fixed income money market instruments at competitive rates for Corporates.
• Hedging of Rupee loans through Interest rate derivatives.
• Facilitate borrowing/lending in call/notice/term money instruments for Interbank counterparties.
• Provide quotes in G-Sec/T-Bill/SDLs and other fixed income SLR/Non SLR instruments to interbank counterparties.
• Facilitate repo transactions to interbank counterparties.

Remittances

• Our wide correspondent banks network enables the fund transfer to take place in the most efficient, economic and secured way to overseas parties. Retail customers can make remittances through our wide network of 20000+ branches as well through the internet banking platform.

Service Delivery Platforms

E-Forex: YONO Business’s foreign exchange platform allows you to request for quotes and book for international trade related transactions. The product is designed for small and mid-sized businesses for carrying out small sized high frequency transactions. Our services help Corporates manage and hedge currency fluctuations and market volatility as per their convenience and business requirements and is integrated within the overall YONO business platform to provide a seamless trade finance experience to the customer. (yono Business)

Fx Retail: The FX-Retail platform provides for an anonymous and order driven dealing in the USD/INR currency pair for the Customers of banks. The Customers can access the platform through the Internet to place buy/sell orders in the USD/INR currency pair as per their requirement. The customers can book contracts in Outright CASH, TOM, SPOT and FORWARD instruments up to a period of 13 months including broken dates also.  The FX-CLEAR Inter-bank Spot rates are also available on the platform for view purpose. RTMUs/CTMU can be contacted for on boarding on the Fx retail platform (https://www.fxretail.co.in/)

We are also on boarded on rate streaming platforms like FX ALL to provide large corporates with ease of booking rates for covering their forex receipts and payments.

Customers can also reach us through Call, Refinitiv and Bloomberg Chat to conclude deals on a real time basis.

Inward/Outward Remittances

International Remittance Centre, Global Markets Unit deals in processing of inward remittances and outward remittance through Fxout under LRS and for NRE customers, for amounts up to USD 25,000 or its equivalent.

Inward Remittance: Centralized processing of retail Inward Remittance, up to USD 25,000 or equivalent, for credit to any account in any Bank in India (through NEFT).

Apart from the applicable GST, processing charge of Rs 50 is levied for each transaction.

Outward Remittance (Fxout): Retail outward remittances for amounts up to USD 25,000 or equivalent under LRS and also for NRE accounts. The facility is available in 97 currencies. Fxout transactions can be undertaken from any branch of SBI or through Internet Banking. Internet Banking transactions can be undertaken in USD, EUR, CAD, AUD, SGD and GBP only.

The commission for Fxout transaction is USD 10 (for USD & other currencies), EUR 10, CAD 10, AUD 10, SGD 10 and GBP 8 plus applicable GST and TCS.