For the first time the Central Bank of India has opened a new forex hub at Gujarat. Overall this is the second forex hub of the bank, prior to this bank has opened the forex hub in Mumbai last year.
In order to provide the more effective facilities to the importers and exporters the bank has decided to launch this Hub.On Saturday the bank has inaugurated this new hub at Urmi Char Rasta Gujarat. Further the bank has plans to set up Forex hubs in Delhi, Kolkata Chennai as well by the end of this year.
Opening forex hubs at branches across the country would enhance the export-import business of the bank. The bank is also having huge banking networking overseas. It has also made arrangements for meeting the requirements of exporters and importers in Hong Kong. The bank has also the apex for the permission to set up a new representative office of the bank in Singapore.