Kerala - Thiruvananthapuram   

SBT gets nod to open office in Dubai

Thiruvananthapuram: State Bank of Travancore has received approval from Central Bank of the UAE to open a representative office (RO) in Dubai, UAE. The opening of the office is expected to go a long way towards providing better services to NRIs besides promoting trade and investment in India from the business community based in the Middle East. With investment opportunities growing in Kerala, SBT can play a lead role in garnering more investment from the Middle East.

The representative office will educate the NRIs on the various banking facilities available and facilitate further increase in inward remittances.

It will also offer personalised services to NRIs in the UAE who maintain account with SBT’s branches and function as a link between them and their home State. For the speedy transfer of funds from the Gulf to Kerala, SBT at present has a rupee draft remittance facility with 21 exchange houses and speed remittance arrangement with six exchange houses. Every third remittance to the home State from the Middle East is through SBT.

The bank also has zero balance NRE account facility for customers going abroad for the first time. Customers in the Gulf have been provided with the SMS alert facility in respect of their accounts. SBT’s internet banking facility has been very popular with NRIs. Using this facility a customer can keep track of his account and also put through transactions from anywhere in the world.

International debit cards issued by the bank can be us ed by the customer to withdr aw cash through ATMs or for shopping across the world.

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