Gandhinagar, a leading public sector bank, Bank of India has set up a Centralized Foreign Exchange Back Office (FE-BO) in Gift City, Gandhinagar, Gujarat. Mr. AK Das, Managing Director and CEO of the Bank inaugurated the new FE-BO Complex in the presence of Mr. Swaroop Dasgupta, Executive Director of the Bank.
The bank has a large franchise of Indian exporters and importers. To cater to the needs of exporters and importers, the Bank has a strong network of 45 foreign branches as well as 250+ correspondent banks in India in addition to 200+ AD branches.
FE-BO will handle international trade originating from all branches in India. In his inaugural address, Mr. Das said that FE-BO would help the bank in building expertise and providing one-stop solution to the bank’s valued customers.
He further added that the Incubation Center at FE-BO will design new customer friendly products, taking advantage of Forex business transactions at the all-India level. FE-BO will actively engage with customers and provide the latest regulatory guidelines / international trade practices.
On the occasion, Mr. Swaroop Dasgupta, Executive Director of the Bank, said that the Bank is in the process of implementing a complete commercial credit settlement by enabling its customers. He added that the initiative will give the customer the best experience in merchant financing and forex transactions.
Mr. Monoj Das, Chief General Manager, International Department, Mr. Raghavendra Kumar, General Manager, Foreign Business Department and Mr. RM Pandey, General Manager, NBG-Gujarat were also present on the occasion.
Mr. Hanwant K. Thakur, DGM and in-charge of FE-BO presented a vote of thanks and assured to make FE-BO a Center of Excellence.
