|
Correspondent
Banking Services What difference can we make to your correspondent banking requirements? Quite a bit! We operate in a vast geographical area, which basically includes Japan, Korea and Taiwan all in forward time zones!
To the local banks and corporates, we are the most trusted and most accepted Indian bank.
We maintain correspondent relationship with 31 banks in Japan, 15 banks in South Korea and 8 banks in Taiwan. Many of those banks rank within the first 20 in the Global Ranking.
We maintain relationship with and cater to the top class local corporates.
Our scale of charges is very competitive. (It may be noted that the charges/ minimum balance requirements, etc given on this website pertain to Tokyo branch only. For charges pertaining to our Osaka branch, kindly contact Osaka branch)
We may add confirmation to your LCs, whenever and wherever required .
Our services: Ø Trade Related services: We can advise the LCs issued by your bank to the beneficiaries in Japan, Korea and Taiwan.
We can add confirmations to your LCs at your request.
We can provide credit against your usance LCs. In case of the usance LCs, we can pay to the beneficiary at sight basis and shall claim reimbursement from you at maturity. The interest for the usance period will have to be borne either by the beneficiary or by the applicant. The interest rate will at no time exceed the prime rate of the currency prevailing on the date of negotiation of the bills. Further, in cases, where interest will be payable by the applicant, the rate of interest will be LIBOR / TIBOR linked. At the moment ,in cases where the beneficiaries are located outside Japan, we are not extending this facility to them, if the interest is payable by the beneficiary.
Bank Guarantees : We issue Bank Guarantee on behalf of the Japanese corporates undertaking joint venture projects in India at very competitive rates. We can also issue Bank Guarantee on behalf of Indian Companies with whom Japanese or Korean Corporates intend establishing business relations. These guarantees are generally in the nature of Bid-Bond, Performance and Financial Guarantee.
Ø Issue of LCs. We issue Letter of Credits on behalf of the Japanese corporates for their imports from India. Your customers in India, exporting to Japan may request their buyers to avail of this facility. We can also confirm Letters of Credit issued by our Correspondents at very reasonable cost.
Ø Account Related Services Type of Account :
NOSTRO Salient Features
: Ø
No Minimum Balance Requirement: We do not insist on maintaining minimum balance. However, we hope that you will maintain balance commensurate with your volume of business. We also expect that you will route all your Japan related business and a reasonable volume of Korea and Taiwan related business through the account. Ø Timely Statement of Accounts: We will provide you detailed statement of account on monthly basis free of cost. In addition, if you desire, we may provide the same on daily basis by SWIFT/FAX against your payment of a very nominal fee. Ø Account maintenance
free of cost: Apart from the charge for providing you the statement of account on daily basis at your request, you need not have to pay anything for maintaining your account. However for payments from your accounts, we will charge you very nominal fees to meet the clearing system charges and our own handling charges.
Ø Other Services : Our other services include
Remittances, Loans and advances, Money market and Forex operations, Syndications and Investments.
|
|
|
Tokyo Branch Mr. C. Vasudevan 03-3284-0097 |
|
|
Osaka Branch Mr. Abraham George Mr.G.Surendranath Ph-06-6271-3237 |
|