When Indians make the world their playground, we set the pitch for them.
Proud to be India’s International Bank.
Correspondent Banking : Overview
The extensive worldwide network of branches of Bank of Baroda offers correspondent banking services to the Indian banks as well as banks from other countries.
Correspondent Banking : Features
Our branches are capable of providing the services that an international correspondent bank can offer. Select branches of the bank are well equipped to handle the business of correspondent banking.
The New York, Brussels and London branches of the bank are equipped with latest technology and have trained and experienced staff for handling the maintenance of Nostro accounts in USD, Euro and GBP respectively.
The overseas presence of the Bank is further supported by a large number of correspondent banks (more than 500) which gives Bank of Baroda access to every corner of the globe.
Correspondent Banking : Services provided
The main services provided are:
- Collection of bills both documentary and clean.
- Advising/confirming of L/Cs opened by Indian banks.
- Discounting of bills drawn under L/Cs as well as outside L/Cs.
- Maintenance of foreign currency accounts (Nostro in USD, Euro, GBP at New York, Brussels and London respectively) for settlement of transactions (link).
- Making foreign currency payments/remittance on behalf of customers of Indian banks.
Bank of Baroda offers an excellent service with competitive charges to other banks for providing the correspondent banking services.
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