ABN AMRO BANK AND CORRESPONDENT BANKING IN INDIA
ABN AMRO bank has emerged as a major correspondent bank owing to a large network. In India, it operates in six major cities, viz. Baroda, Chennai, Kolkata, Mumbai, New Delhi and Pune. Being a correspondence bank, its product offerings are found primarily in the area of trade and clearing. It is doing well in these owing to strong tie-up with local Indian banks reaching 350 centres across the country. As a result, payments are effected speedily and effectively.
Cash Management
The customized products in the area of cash management include cheques payable at par at all its branches across the country, apart from traditional collection services, such as collection of outstation/upcountry cheques drawn on other banks. ABN AMRO is a member of all major clearing enters in the major financial centers. It has an electronic delivery system and structures multilateral
netting of cash.
Trade Services
Under trade services, the Bank offers a comprehensive range of products, such as:
1. LC reimbursement
2. Indian rupee trade payments
3. Handling documentary bills for collection
4. Bills negotiation
5. Letter of credit advising
6. Letter of credit confirmation
7. Guarantees
Treasury Services
Treasury services at ABN AMRO Bank (India) are available round-the-clock. Rupee funding at its treasury desk is provided at competitive rates along with advice on market trends and rates. It provides also advisory services on the request of financial institutions and corporate in the area of regulatory, economic and financial matters including depository services.
1. Describe the network of ABN AMRO Bank in India.
2. Is international working capital management more complex than the domestic working capital management?
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