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Thursday, September 17, 2009

The Results of Locational International Banking Statistics and Consolidated International Banking Statistics in Japan

0 comments Posted by shuseel at 8:09 PM


    Net external claims reported by banks in Japan were 1.4752 trillion U.S. dollars at the end of June 2009. They increased slightly from the previous quarter-end, after having decreased for three consecutive quarters. Although both gross external assets and liabilities increased, the growth of gross external assets was somewhat higher than that of gross external liabilities.



  • Locational International Banking Statistics in Japan

     









Consolidated International Banking Statistics of Japanese Reporting Banks

  • Consolidated international claims on an ultimate basis stood at 2.1981 trillion U.S. dollars at the end of June 2009, marking the first increase in five quarters.







 

The Federal Reserve Board on Monday announced the designation of the chairs and deputy chairs of the twelve Federal Reserve Banks for 2010

0 comments Posted by shuseel at 7:57 PM


The Federal Reserve Board on Monday announced the designation of the chairs and deputy chairs of the twelve Federal Reserve Banks for 2010.

Each Reserve Bank has a nine-member board of directors. The Board of Governors in Washington appoints three of these directors and each year designates one of its appointees as chair and a second as deputy chair.
Following are the names of the chairs and deputy chairs designated by the Board for 2010:
Boston
Henri A. Termeer, Chairman, President and Chief Executive Officer, Genzyme Corporation, Cambridge, Massachusetts, named Chair.
Kirk A. Sykes, President, Urban Strategy America Fund, L.P., Boston, Massachusetts, named Deputy Chair.
New York
Denis M. Hughes, President, New York State AFL-CIO, New York, New York, renamed Chair.
Lee C. Bollinger, President, Columbia University, New York, New York, renamed Deputy Chair.
Philadelphia
Charles P. Pizzi, President and Chief Executive Officer, Tasty Baking Company, Philadelphia, Pennsylvania, named Chair.
Jeremy Nowak, President and Chief Executive Officer, The Reinvestment Fund, Philadelphia, Pennsylvania, named Deputy Chair.
Cleveland
Alfred M. Rankin, Jr., Chairman, President and Chief Executive Officer, NACCO Industries, Inc., Cleveland, Ohio, named Chair.
Richard K. Smucker, Executive Chairman and Co-Chief Executive Officer, The J.M. Smucker Company, Orrville, Ohio, named Deputy Chair.
Richmond
Lemuel E. Lewis, President, LocalWeather.com, Suffolk, Virginia, renamed Chair.
Margaret E. McDermid, Senior Vice President and Chief Information Officer, Dominion Resources, Inc., Richmond, Virginia, renamed Deputy Chair.
Atlanta
Carol B. Tomé, Chief Financial Officer and Executive Vice President, The Home Depot, Atlanta, Georgia, named Chair.
Thomas I. Barkin, Director, McKinsey & Company, Atlanta, Georgia, named Deputy Chair.
Chicago
William C. Foote, Chairman and Chief Executive Officer, USG Corporation, Chicago, Illinois, named Chair.
Thomas J. Wilson, Chairman, President and Chief Executive Officer, The Allstate Corporation, Northbrook, Illinois, named Deputy Chair.
St. Louis
Steven H. Lipstein, President and Chief Executive Officer, BJC HealthCare, St. Louis, Missouri, renamed Chair.
Ward M. Klein, Chief Executive Officer, Energizer Holdings, Inc., Town & Country, Missouri, renamed Deputy Chair.
Minneapolis
John W. Marvin, Chairman and Chief Executive Officer, Marvin Windows and Doors, Warroad, Minnesota, named Chair.
Mary K. Brainerd, President and Chief Executive Officer, HealthPartners, Minneapolis, Minnesota, named Deputy Chair.
Kansas City
Lu M. Cordova, Chief Executive Officer, Corlund Industries, LLC and President & General Manager, Almacen Storage Group, Boulder, Colorado, renamed Chair.
Paul DeBruce, Chief Executive Officer and Chairman/Founder, DeBruce Grain, Inc., Kansas City, Missouri, renamed Deputy Chair.
Dallas
James T. Hackett, Chairman, President and Chief Executive Officer, Anadarko Petroleum Corporation, Houston, Texas, renamed Chair.
Herb Kelleher, Founder and Chairman Emeritus, Southwest Airlines, Dallas, Texas, renamed Deputy Chair.
San Francisco
T. Gary Rogers, Chairman of the Board, Levi Strauss & Co., San Francisco, California, renamed Chair.
Douglas W. Shorenstein, Chairman and Chief Executive Officer, Shorenstein Properties LLC, San Francisco, California, renamed Deputy Chair.

 

The Bank of England maintain the official Bank Rate paid on commercial bank reserves at 0.5%

0 comments Posted by shuseel at 7:50 PM

The Bank of England’s Monetary Policy Committee today voted to maintain the official Bank Rate paid on commercial bank reserves at 0.5%. The Committee also voted to continue with its programme of asset purchases totalling £175 billion financed by the issuance of central bank reserves.
The Committee expects the announced programme to take another two months to complete. The scale of the programme will be kept under review.
The minutes of the meeting will be published at 9.30am on Wednesday 23 September.

 

Tuesday, September 15, 2009

Indian rupee plunged to a 15-day low against the dollar

0 comments Posted by shuseel at 6:24 PM



Wednesday during early deals, the Indian rupee plunged to a 15-day low against the dollar as overseas investors trimmed holdings of riskier emerging-market assets on concerns over global economic recovery.

The Indian market is trading sharply lower amid weak global cues on worries a world economic recovery would take longer than expected. Net FII selling and concerns about a rising fiscal deficit are also weighing on investor sentiment.

The BSE Sensex opened lower at 14,040 and fell further in early trading. The index is now trading near the day's low at 13,746, down 425 points or 3% and the S&P CNX Nifty is trading at 4,071, down 3.12%.
The rupee fell to a 15-day low of 48.9350 against the dollar today and this may be compared to yesterday's New York session close of 48.4650. If the Indian currency weakens further, it may likely target the 49.5 level.

The Indian currency has been showing weakness against the dollar after it reached a 15-day high of 47.5650 on July 02. Since then, the rupee has lost 3% against the dollar.

 

Monday, September 14, 2009

USD was able to pick up some lost ground today

0 comments Posted by shuseel at 8:40 PM

The USD was able to pick up some lost ground today, as risk aversion in equity markets lent the greenback some support. There was an article in the NY times, which reported that China is moving forward with levying tariffs on US automotive products and chicken meat, in response to President Obama's recent decision to levy tariffs on Chinese tire exports. The renewal of protectionism concerns between the US and China led to the overnight sell-off in risk correlated trades. The Nikkei was down -2.3% and S&P futures are pointing to a lower open. Gold and silver fell to $994.00 and $16.30, respectively. The USDJPY fell to 90.20 before rallying back to 90.70. Interestingly, the correlation between the JPY and equity markets continues to fall, while USD/JPY and DXY correlation has significantly increased. We expect that the recent JPY strength will force investors to consider the spillover effect to Japanese exporters’ earnings witnessed in today's Nikkei sell off. In the days to come, we believe Japanese policy markets will become increasingly vocal with their dissatisfaction. In this regard, traders will be specifically focused on Tuesday’s BoJ monetary policy meeting and the central bank’s accompanying statement. In addition, this will be the first BoJ meeting after the historic elections and the marginally independent CB might provide some direction for the young government. The other central bank meeting that traders will be watching, considering the recent currency strength, will be the SNB. Along with the JPY, the CHF has been one of the biggest gainers in recent weeks. We expect the SNB on Thursday to hold rates, but to once again affirm that CHF strength is unacceptable and halting further appreciation is at the top of their agenda. Today's Producer and Import prices came in at -5.5% vs. -5.4% y/y exp. If nothing else, they confirm Switzerland’s subdued inflationary trend and support the SNB fear that deflation remains a strong risk. The USD strength has been very apparent in the GBP, as markets speculate that the sterling is due for a correction. The Cable is now trading below its 5day MA at 1.6540. This should be an eventful week for the UK and sterling, as along the normal economic releases, Governor King and other MPC members are expected to testify to lawmakers on Tuesday and will be asked some very direct question of the future plans of QE. For the rest of the day, markets will be watching Capacity Utilization from Canada (USDCAD has found buyers briefly penetrating the 1.0990 psychological resistance), equity markets and a US Fed speakers.

 

Sunday, September 13, 2009

U.S. Dollar Continues to Lose Ground - Euro, British Pound Climbs to Fresh Weekly High

0 comments Posted by shuseel at 9:22 PM


The euro rallied against the greenback for the sixth day to reach a fresh yearly high of 1.4630 during the overnight session however, the EUR/USD may hold a narrow range going into the weekend as the pair remains overbought.
Talking Points
·         Japanese Yen: USD/JPY Breaks Below 91.00
·         Pound: Producer Prices Advance for Sixth Month
·         Euro: German Wholesale Prices Rebound in August
·         US Dollar: U. of Michigan Confidence Survey on Tap
The euro rallied against the greenback for the sixth day to reach a fresh yearly high of 1.4630 during the overnight session however, the EUR/USD may hold a narrow range going into the weekend as the pair remains overbought. Meanwhile, the economic docket showed wholesale prices in Germany rose 0.7% in August, while the annualized rate fell at a slower pace from the previous month, and the extraordinary efforts taken on by the European Central Bank should help to stem the downside risks for growth and inflation as policy makers anticipate economic activity to improve going into the following year.
Meanwhile, ECB board member Lorenzo Bini Smaghi held a hawkish tone during a speech in Rome and said that the Governing Council will have to hike the benchmark interest rate before inflation begins to materialize as the central bank maintains its one and only mandate to ensure price stability. Mr. Smaghi said that the current policy is only “temporary” and expects borrowing costs to rise as the output gap narrows, but went onto say that now is not the time to implement an exit strategy. Moreover, the board member stated that the exit strategy is likely to have a substantial impact on the yield curve once it’s implemented, and said that the non-standard measures have achieved its objectives. At the same time, ECB’s Jose Manuel Gonzalez-Paramo said that the exit strategy will be dependent on the outlook for inflation and financial stability, and expects to see a modest recovery going forward as he anticipates economic activity in some countries to expand throughout the first half of 2010. As the central bank holds an improved economic outlook and expects the euro-region to recover going into the following year, long-term expectations for higher interest rates may continue to drive the euro higher as investors speculate the ECB to tighten policy over the next 12 months.
The British pound continued to retrace the sell-off from the previous month and advanced against the U.S. dollar for the fourth day to reach a fresh weekly high of 1.6744, and the improved outlook for inflation may drive the GBP/USD higher going into the North American trade as investors anticipate the Bank of England to raise the benchmark interest rate next year. Producer prices in the U.K. rose 0.2% in August, with the annualized rate falling 0.4% from the previous year amid forecasts for a 0.5% decline, while input prices surged 2.2% from July to top expectations for a 1.0% rise. At the same time, core prices rose 0.2% during the month, which was in-line with expectations, while the annual rate grew 0.7% from last year after rising 0.1% in the previous month. As the extraordinary efforts taken on by the government helps to stem the downside risks for growth and inflation, the central bank is likely to hold an improved outlook for the economy, and the British pound may continue to trend higher over the near-term as growth prospects improve.
U.S. dollar price action was mixed across the board, with the greenback tumbling lower against the Japanese yen for the fourth consecutive day to trade below 91.00, and the reserve currency may face increased volatility going into the U.S. session as the economic docket is expected to show a rebound in consumer confidence. The U. of Michigan confidence survey is anticipated to improve for the first time in three months, with economists forecasting the index to rise to 67.5 in September from 65.7 in the previous month, and the data is likely to encourage an enhanced outlook for private sector spending as household sentiment improve. At the same time, import price are expected to rise 1.0% in August, with wholesales inventories projected to fall for the eleventh month in July, while the public deficit is anticipated to widen to $139.5B in August from $111.9B in the previous month, and the slew of data is likely to move the markets as the markets thin ahead of the weekend.

 

International Banking Training News

0 comments Posted by shuseel at 9:15 PM

UCOBANK has international presence for over 50 years now. UCO presently has four overseas branches in two important international financial centres in Singapore and Hong Kong and representative office at Kuala Lumpur, Malaysia and Guangzhou, China.
The international linkage from India is supported by a large Indian network through Integrated Treasury Branch and Authorised Forex Branches. Our other branches in India also provide international banking facilities through the Authorised Branches of our bank.This international network is further augmented by correspondent arrangements with leading Banks at all important world centres in various countries.Thus UCO has a true global presence and can offer a variety of international banking products, services and financial solutions to all cross-section of clients, tailor-made to their banking requirements through one of the best international banking relationship networks both in terms of strength and spread.
1. PRODUCTS & SERVICES
The international banking services in India is provided for the benefit of Indian customers, corporates, NRIs, Overseas Corporate Bodies, Foreign Companies/ Individuals as well as Foreign Banks etc. by our International Banking Branches, Authorised Forex Branches and Integrated Treasury Branch. Our other branches in India also provide international banking facilities through the aforesaid network of our branches.
All the facilities are subject to the prevalent rules & guidelines of the Bank and RBI. Brief details of services provided are as under:-
1. NRI Banking (Please visit NRI Corner)
2. Foreign Currency Loans
3. Finance/Services to Exporters
4. Finance/Services to Importers
5. Remittances
6. Forex & Treasury Services
7. Resident Foreign Currency (Domestic) Deposits
8. Correspondent Banking Services
9. All General Banking Services (Please visit Domestic Banking Sections)
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2. FOREIGN CURRENCY LOANS
a) In India (FCNR 'B' Loans):
The foreign currency denominated loans in India are granted out of the pool of foreign currency funds of the Bank in FCNR(B) Deposit etc. accounts as permitted by Reserve Bank of India. These loans are commonly known as FCNR(B) Loans.
UCO has a broad base of NRI customers/depositors. Therefore, with the resource base of FCNR(B) deposits etc. UCO is in a position to offer the Foreign Currency Loans in India to our customers as an alternative to loans in Rupees.
These loans are denominated in foreign currency such as US Dollars and are offered as short term loans. The interest is fixed with a reasonable spread over LIBOR
UCO also allows loans in foreign currency to NRIs against their FCNR(B) Deposits at the Indian Branches. The details are available in NRI Banking section.
b) From Outside India:
With presence at two major financial centers of the world, UCO has foreign currency resources to arrange /grant Foreign Currency Loans to Indian as well as multinational corporates at the competitive rates.
The foreign currency denominated loans are granted by our overseas branches to Indian Corporates as per External Commercial Borrowing (ECB) Policy of Govt. of India/RBI.
3. FINANCE/SERVICES TO EXPORTERS
UCOGOLD CARD FOR EXPORTERS
UCO launches Goldcard for creditworthy exporters - Simplified access to export credit on very good terms:
Better terms of credit including rates of interest than those extended to other exporters by the Bank.
Processing of applications for credit faster than for other exporters.Simpler norms, subject to specific requirements in each case, if any. 'In-principle' limits for a period of 3 years with a provision for automatic renewal, subject to fulfillment of the terms and conditions of sanction. Preference for grant of packing credit in foreign currency (PCFC), subject to availability of foreign currency funds. Lower charges schedule and fee-structure than those provided to other exporters.
Relaxations in the norms in respect of security and collaterals, wherever feasible. Other facility/benefit to the exporters, subject to the fulfillment of extant rules and regulations applicable to export finance.
Types of Facilities for Exports
a) Rupee Export Credit (pre-shipment and post-shipment):
UCO provides both pre and post shipment credit to the Indian exporters through Rupee Denominated Loans as well as foreign currency loans in India. Credit facilities are sanctioned to exporters who satisfy credit exposure norms of UCO. Exporters having firm export orders or confirmed L/C from a bank are eligible to avail the export credit facilities.
Rupee Export Credit is available generally for a period of 180 days from the date of first disbursement. In deserving cases extension may be permitted within the guidelines of RBI. The corporates may also book forward contracts with UCO in respect of future export credit drawls, if required, as per the guidelines/directives provided by RBI.
b) Pre-shipment Credit in Foreign Currency (PCFC):
UCO offers PCFC in the foreign currency to the exporters enabling them to fund their procurement, manufacturing/processing and packing requirements. These loans are available at very competitive international interest rates covering the cost of both domestic as well as import content of the exports.
The corporates/exporters with a good track record can avail a running account facility with UCO for PCFC. PCFC is generally available for a period of 180 days from date of first disbursement. In deserving cases extension may be permitted within the guidelines of RBI.
Features:
(The forward covers can be booked in respect of future PCFC drawls.)
In the PCFC drawls permitted in a foreign currency other than the currency of export, exporter bears the risk in currency fluctuations. The foreign currency drawls are restricted to major currencies at present. In case, the export order is in a non-designated currency, PCFC is given in US$. For orders in Euro, Pound Sterling and JPY, PCFC can be availed in the respective currencies or US$ at the choice of exporter.
Multi-currency drawls against the same order, are not permitted at present due to operational inconvenience.

Repayment:
PCFC is to be repaid with the proceeds of the export bill submitted after shipment.In case of cancellation of export order, the PCFC can be closed by selling equivalent amount of foreign exchange at TT selling rate prevalent on the date of liquidation.
The PCFC in foreign currency are granted at our various branches through our Integrated Treasury Branch in Mumbai.
c) Negotiation of Bills under L/C
UCO's Authorised Forex Branches are active in negotiation/discounting of sight/usance international export bills under L/Cs opened by foreign banks as well as branches of Indian banks abroad. UCO offers the most competitive rates. These transactions are undertaken by our branches within the Bank/Country Exposure ceilings prescribed by UCO.
d) Export Bill Rediscounting:
UCO provides financing of export by way of discounting of export bills, as a post shipment finance to the exporters at competitive international rate of interest. This facility is available in four currencies i.e. US$, Pound Sterling, Euro and JPY.
The export bills (both Sight and Usance) drawn in compliance of FEMA can be purchased/ discounted.
Exporters can avail this facility from UCO to cover the bills drawn under L/C as well as other export bills.
e) Bank Guarantees:
UCO, on behalf of exporter constituents, issues guarantees in favour of beneficiaries abroad. The guarantees may be Performance and Financial. For Indian exporters, guarantees are issued in compliance to RBI guidelines.
 

4. FINANCE/SERVICES TO IMPORTERS
a) Collection of Import Bills:
UCO has correspondent relationship with reputed International Banks throughout the world and can thus provide valuable services to importers who may be importing from any part of the Globe. The import bills are collected by our Authorised Forex Branches at very competitive rates. The import bills drawn on customers of other branches are also collected through these branches.
b) Letter of Credit:
On account of UCO's presence in international market for decades, UCO has established itself as a well known international bank. L/Cs of UCO are well accepted in the International market. For any special requirement UCO can get the L/C confirmed by the top international banks.
Thus UCO's L/C facility for the purchase of goods/services etc. fulfills the requirements of all importers to arrange a reliable supply. UCO offers this facility to importers in India within the ambit of FEMA and Exim policy of Govt. of India. UCO uses state of the art SWIFT network to transmit L/Cs and with a worldwide network of correspondents and our overseas branches facilitates prompt & efficient services to the importers.
L/C facility is granted to the importers on satisfying credit exposure norms of the Bank.
c) Financing of import
Usance L/C facility
UCO's Usance L/C facility provides the importer an opportunity to avail credit from their supplier/supplier's bank.
Deferred Payment Guarantee/Standby LC
UCO's Deferred Payment Guarantee/Standby LC facility also provides the importer an opportunity to avail credit from their supplier/supplier's bank.
Rupee finance
UCO also offers to Indian importers Rupee finance for payment of goods and services imported from abroad under its various Rupee credit facilities on satisfying credit exposure norms of the Bank.
Foreign Currency Loans
Short term External Commercial Borrowings or Trade Credits for less than three years as permitted by RBI for imports into India is allowed by our overseas branches to Indian importers at very competitive rates. These are generally backed by L/Cs opened by importer's bank. Indian importers can also avail this facility from our overseas branches as roll-over credit on their bank agreeing to extend the L/C in favour of our overseas branches.
d) Bank Guarantees:
UCO, on behalf of importer constituents or other customers, issues guarantees in favour of beneficiaries abroad. The guarantees may be both Performance and Financial.
UCO, through its worldwide network of correspondents, Indian branches and overseas branches, offers prompt inward and outward foreign remittance facilities at very competitive rates. The use of SWIFT network adds to reliability and efficient handling.
The remittances are handled by our Authorised Forex Branches. The outward remittances of customers of other branches are also remitted through these branches. Through our well-spread network of branches in India, inward remittances reach every nook & corner in India. UCO has tie-up arrangements with Western Union Money Transfer.
6. FOREX & TREASURY SERVICES
UCO operates in the Forex Market in India as well as abroad. In India the inter-bank forex operations is centralized at our Integrated Treasury Branch in Mumbai, country's undisputed financial hub. UCO's Authorised Forex Branches undertake customer transactions. The forex requirements of customers of other branches are also routed through these branches. Overseas branches undertake the forex treasury operations in Singapore and Hong Kong centre.
All the forex treasuries are equipped with state of art technology and professionally skilled staff to handle forex treasury operations efficiently.
UCO deals in all the important international currencies. Our Forex Treasuries generally 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
Forex Services For Corporates
To improve the standard of service to the valued clientele, UCO has integrated its Forex and Domestic Treasury Operations under one roof in Mumbai. UCO's Forex Inter-bank desk at Treasury Branch is an active market player. UCO's Integrated operations at one place in Mumbai enables it to participate in inter-bank transactions on a large scale. Forex Dealing Rooms in Singapore and Hong Kong and a worldwide network of correspondents add to UCO's strength in providing the best forex corporate services.
Authorised Forex Branches spread across the country cater to needs of all customer in foreign exchange. Corporate Forex Services include Foreign Currency Sale & Purchase, Forward Booking, Cross Currency Forward etc. Other products like Collection & Negotiation of Export & Import Bills under LC, LC Issuance, Advising & Confirmation Services, Arrangement of Trader Credits, the guarantees on behalf of Indian Corporate/Projects, EEFC Accounts, Remittance etc. are all available to corporate customers from UCO.
UCO is establishing a Derivative Desk in India to offer various Derivative Products, such as IRS, FRA, Cross-currency Options, Currency Swaps with Cross-currency Interest Rate Swap etc. With this UCO will also offer structured products suitable for Corporates who have large receivables or payment obligation in foreign currencies. Derivative Desk will deal in hedging products to hedge the market risks i.e. interest rate risk and foreign exchange risk in Bank's balance sheet.

 7. RESIDENT FOREIGN CURRENCY (DOMESTIC) A/Cs
UCO also offers Resident individuals in India, the facility to open non-interest bearing current account in foreign currency at the selected Indian branches as permitted by RBI. Joint accounts with a resident eligible to open RFC (D) account is permissible. Nomination facility is also permitted.
Thus UCO will provide an option to resident individuals to retain their receipts from abroad in foreign currency as permitted by RBI.

 8. CORRESPONDENT BANKING SERVICES
The extensive network of branches in India and presence in two important international centres enables UCO to offer correspondent banking services to the banks.
The Authorised Forex Branches in India as well as our overseas branches are capable of providing the services that an international correspondent Bank can offer.
UCO can provide the following main services:-
  1. Collection of bills both Documentary and Clean.
  2. Advising/confirming of L/Cs opened by banks
  3. Discounting of Bills drawn under L/Cs
  4. Maintanence of foreign currency accounts in S$ and HK$
  5. Maintanence of Rupee accounts in India
  6. Making foreign currency payments/remittance on behalf of customers of banks.
UCO's excellent service with competitive charges provide a good Correspondent Banking solution.
UCO's overseas branches are active in discounting of usance international trade bills. With foreign currency resources of overseas branches, UCO offers 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 are also discounted at competitive rates. These transactions are undertaken by them within the Bank/Country Exposure ceilings prescribed by UCO.
EXTERNAL COMMERCIAL BORROWING (ECB)
The foreign currency loans to the Indian corporate are granted by UCO's overseas branches. The borrowings raised by the Indian corporate from specified banking sources outside India are termed "External Commercial Borrowings" (ECBs). These ECBs can be raised within the Policy guidelines of Govt. of India/Reserve Bank of India, as applicable from time to time. ECB includes the following:-
  1. Commercial LoansSyndicated Loans
  2. Floating/Fixed rate notes and bonds
  3. Lines of Credit from foreign banks and financial institutions
  4. Import loans, loans from the export credit agencies of other countries.

    UCO is very active in granting and arranging various forms of ECB facilities for the Indian Corporate. UCO can offer following services to the Indian corporates in respect of cross border financing :-
  1. Arranging/granting External Commercial Borrowings by way of Foreign Currency Loans, FRNs, Bonds for the Indian corporates.
  2. Arranging/underwriting International Syndicated Loans for the Indian corporates.
  3. Participating in the International Loan Syndications.
  4. Granting loans backed by Export Credit Agencies.
  5. Providing import finance for Indian Corporates.
  6. Issue of Guarantees such as Bids, Bonds, Performance, Advance Payment etc. for the overseas projects bagged by the Indian Corporates.

 

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