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, Corporate and MSME clients of the Bank. TMG comprises of 10 Regional Treasury Marketing Units (RTMUs), 1 Central Treasury Marketing Unit (CTMU) and 43 Satellite Centres across the country, staffed with well-equipped Relationship Managers Treasury (RMTs) and are headed by senior dealing/forex personnel to serve customers better. The locations of RTMUs 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 Ahmedabad, Bengaluru, Chandigarh, Chennai, Delhi, Ernakulam, Hyderabad, Kolkata, Lucknow and Mumbai, and Satellite Centres are functioning from Morbi, Bhavnagar, Rajkot, Vadodara, Surat, Hubballi, Mangalore, Madurai, Coimbatore, Trichy, Salem, Tirupur, Udaipur, Meerut, Gurugram, Noida, Jodhpur, Jaipur, Amritsar, Ludhiana, Rohtak, Jammu, Agra, Varanasi, Moradabad, Kanpur, Tirupati, Vijayawada, Visakhapatnam, Guwahati, Durgapur, Bhubaneswar, Raipur, Bhopal, Aurangabad, Nagpur, Kolhapur, Nasik, Panaji, Pune, Indore, Trivandrum and Kottayam, for catering to the Corporates and MSMEs 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, 360T 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.

FI&IS (Foreign Investments & Institutional Sales)

The FI& IS (Foreign Investment & Institutional Sales) team is a specialised team of professionals catering to FDI/FPI/AIF clients for their treasury requirements related to their investments/exit in India. FI&IS team at State Bank of India, Global Markets is the single point of contact for our clients, offering a continuum of services that span across the entire life cycle of transaction initiation to the fulfilment of regulatory filings. Understanding the integral role of foreign investors and their portfolio companies in India, our collaborative approach allows us to work closely with these entities.

Service Suite

Forex

• Forex Conversions While we Offer custody services through our partner custodians, we also facilitate forex conversions via an established third-party process (TPFx), eliminating the need to open a separate banking/custody relationship.
• Competitive Rates As a leading market player in the forex market, we can offer best in market live and FBIL fixing rates in USD/INR and most competitive rates for G-7 currencies.
• Timely Settlements Our Global correspondent relationship along with efficient execution through a dedicated operations team expedites fund settlement.

Government Securities/Corporate Bonds

• One of the largest inventories of securities across all tenors with ability to handle large ticket transactions allows us to provide competitive rates to foreign investors interested in buying or selling corporate bonds and Government securities inclusive of T-Bills and State Development Loans.

Regulatory Filing Requirements

• We facilitate compliance with the regulatory filing requirements of our clients by actively coordinating with our dedicated ODI/FDI cell to streamline and expedite the filing experience.

Credit facilities to the Portfolio Companies

• A dedicated FII cell has been set up in Mumbai to cater to the credit requirements of the portfolio companies of foreign investors.

Contact Details

Interest Rate Markets

Interest Rate Markets Desk manages India’s largest debt portfolio among Banks. With our position as one of the largest players in SLR, Non-SLR and rupee derivatives, SBI is a major market maker for institutional clients- offering quotes on CCIL trading platforms and OTC market.

Our strengths:

• Largest investment portfolio among Banks- enabling us to offer quotes in a wide range of securities across tenors.
• Strong market share across products- ~23% of commercial bank holding in GSec and SDL securities is with SBI.
• Largest Non-SLR book for any bank in India- anchor investor in major NCD issuances.
• Wide range of derivative products for hedging requirements of clients-OIS, IRF, Swaption, FCS OIS, Credit Default Swaps
• Client clearing services to constituents.

Products:

Reach us on:

Inward Outward Remittances

International Remittance Centre, Global Markets Unit deals with processing of inward and outward remittances through IRC and FxOut application respectively.

Inward Remittance: Centralized processing of retail Inward Remittance received through SWIFT, up to USD 25,000 or equivalent (No limit for INR SWIFT), 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 under Non-LRS. The facility is available in 97 currencies and the transaction can be undertaken from any branch of SBI or through Internet Banking. Internet Banking transactions can be undertaken in USD, EUR, CAD, AUD, SGD, NZD, AED and GBP only.

The commission for Fxout transaction is 10 Unit of respective currency for EUR, CAD, AUD, SGD, NZD, USD and other currencies except GBP and AED for which it is 8 GBP and 25 AED respectively plus applicable GST and TCS.

FX-Retail - An electronic trading platform for buying or selling foreign exchange by retail customers of Banks
A trading platform is expected to provide the much-needed transparency and at the same time enhance competition and lead to better pricing for the customers. In this connection, FX-Retail has been rolled out by the Clearing Corporation of India Limited (CCIL).

Features

FX-Retail provides for an anonymous and order driven dealing for Retail Customers wherein they can place orders and trade in the USD/INR currency pair.

FX-Retail platform can be accessed by any customer of the bank (through the website https://www.fxretail.co.in) who has a need to purchase or sell US Dollar against the Rupee for delivery on cash basis (same day), tom basis (next day) or spot basis (two days after date of transaction), subject to the following :

• There is no cap on the number of transactions per customer during a day. The total amount of transactions of a customer shall be subject to the limit assigned by its bank.
• The size of a single transaction is not allowed to exceed $5 million.

Fee recoverable from users of FX-Retail

As per RBI directives, Banks may recover from customers, transaction and settlement charges levied by CCIL details of which are as under :

* GST is applicable on the above charges

RBI has also permitted Banks to charge their retail customers a pre-agreed flat fee towards administrative expenses. Customers may contact their home branch to ascertain details of Bank’s charges. Customers while registering on CCIL’s FX-Retail platform may note to mention State Bank of India as the Relationship Bank. Customers are requested to contact their Home Branch for submission of requisite documents for on-boarding . For more details about FX-Retail please visit CCIL’s website (www.ccilindia.com).