SBI Launches Online Forex Platform

State Bank of India today launched “SBI eforex”, an internet-based platform that enables customers to book their foreign exchange transactions online. This smart platform launched by Smt. Arundhati Bhattacharya, Chairman, SBI, facilitates the customers of the bank to obtain forex rates without having to physically visit the branch.

The “SBI eforex” is an innovative platform incorporating robust security features and is designed to be user-friendly, fast and convenient. It is a highly flexible product offering the facility to the customers to customize and set their own limits for deal size, daily transaction limits etc. Details of all deals done are made available to the users on a real-time basis.

State Bank of India, which has a very significant presence in India’s foreign exchange markets, is always on the path of innovation and the “SBI e-forex” is its second forex technology initiative in the last two months after the launch of SBI “Fx Out” which was a unique product enabling sending of foreign currency remittances from any its branches in India.