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Mone 20113

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									                                                                                                                                                                                                                              www.statebankoftravancore.com



   NRI
   NEWS                                                          (Associate of the State Bank of India)
    CHANNEL                                          NRI Banking Business Department, PB No. 2704,
                                                  Head Office: Poojappura, Thiruvananthapuram - 695 012.

  Issue No. 38 / 2011-12                    A Publication from NRI Banking Business Department                                                                                                                                                     18.11.2011


Interesting News for NRIs                                                                                                                                    SBT Launches Instant Credit


                                                                     -------------------------------------------------------------------------------------




                                                                                                                                                              Sri. S Balachandran, Chief General Manager SBT
                                                                                                                                                              launching Instant Credit (an online remittance
                                                                                                                                                              facility which offers instant credit to beneficiary's
                                                                                                                                                              account with SBT) at Muscat and at Dubai.
                              (Valid upto 30-11-11)
  With exchange rates of foreign currency rising, now is the                                                                                                  This facility will be available to all exchange
  perfect time to remit your foreign currency savings through
  SBT. Remit the maximum and enhance your savings and                                                                                                         companies having drawing arrangements with
  investment!
             For above 501 days and upto 10 years 9.60%*
                                                                                                                                                              SBT.
                                            (Conditions Apply)
----------------------------------------------------------------------------------------------------------------------------------------------------------------------
 USD / INR View …..                                                                                                                                                                                        815 Branches for SBT
 USD/INR continued to be volatile, breaking resistance levels                                                                                                                                              Includes Specialised NRI - Premium Banking
 as demand for dollar is increasing in the local market. The                                                                                                                                               Branch opened at Vellayambalam Jn. in the
 trade deficit for the month of October came 17 years high at                                                                                                                                              heart of Thiruvananthapuram City, with state
 USD 19.00 billion, which threatens the local currency to                                                                                                                                                  of the art infrastructure. The branch provides a
 weaken further. Rupee touched 3 years low at 50.96 on                                                                                                                                                     host of value added NRI services including
 16.11.2011. We expect the trend to continue in coming days                                                                                                                                                Financial Advise.
 as sentiments on rupee is likely to bearish considering supply                                                                                                                                            Contact Person : Mr. R. Krishnan Kutty (AGM)
 demand mismatch and uncertainty in global market. In                                                                                                                                                      e-mail : nritvm@sbt.co.in Mob : + 91 9446076688
 short term, USD-INR is expected to trade in a range of                                                                                                                                                    Branch Code : 70828, IFSC Code : SBTR0000828
 50.00-51.50.
----------------------------------------------------------------------------------------------------------------------------------------------------------------------
New Exchange Companies for Remittances                                                                                                                                                                   New Remittance arrangements from
                                                                                                                                                                       -------------------------------




from Qatar                                                                                                                                                                                               Sultanate of Oman
Al Dar For Exchange Works                                                                                                                                                                                Al Jadeed Exchange L.L.C
Office No. 2, Building No. 223, Ismael Bin Ali Building (IBA) 41,                                                                                                                                        Corporate Office, P.O. Box 3705, Postal Code 112,
Nuaija, Al Hilal(W), P.O. Box 24048, Doha, Qatar                                                                                                                                                         Sultanate Of Oman
Tel: +974 44550455 Mob: +974 66679272                                                                                                                                                                    Tel : +968- 24489336 Fax : +968-24481226
e-mail : thomas@aldarexchange.com                                                                                                                                                                        e-mail : aamit@aljadeedexchange.com

                                                                     SBT Representative Office:
              Sri. Amier Hamsa / Sri. Suresh Thomas, State Bank of Travancore, Representative Office, No.503, Al Arif Business Bay,
                            5th Floor, Near HSBC, P O Box No.126959, BUR DUBAI, UAE. Phone : 00971 4 3537336,
              Fax : 00971 4 3536199, Mobile : 00971 50 8973989, 00971 50 5891750, e-mail : dubai@sbt.co.in, dubaisbt@eim.aea
                                                                                                                                                  City Exchange LLC, UAE Global Money Exchange Co. LLC, Sultanate of Oman
                 Exchange Companies managed by SBT citex@emirates.net.ae                                                                                                 globalme@omantel.net.om
                                                                                                                                                  00971 4 3937868        00968 2 4703566
News
 News
India ranks 134 among 187 countries in terms of the human development index, which assesses
?
     long-term progress in health, education and income indicators, said a UN report.
The IMF
? chief Ms. Christine Lagarde, warned the world risked plunging into a “downward spiral”
     of financial instability and urged Asian economies to be on their guard.
Eurozone
? crises intensifies. Apprehensions that Europe's sovereign debt crisis spiraling out of
     control intensified as political chaos in Athens and Rome. And looming recession, created panic
     on global markets. Germany and France had begun preliminary talks on a break-up of the
     Eurozone, amid fears that Italy will be too big to rescue.
Investors
? could again rush back to their safe haven – GOLD - which could move up by 10 to 15%
     from the current levels of $ 1,770 levels for a troy ounce.
----------------------------------------------------------------------------------------------------------------------------------------------------------------------

Fixed Maturity Plans
                                                                                                                Buy pure 999.9 assay
       (SDFS - SBI Debt Fund Series)                                                                           Certified Gold Coins from
Fixed maturity plans, or FMPs, are schemes floated by mutual                                                              SBT
funds and they work almost like a bank fixed deposit (FD).
They come with different maturities like three months, six                                                      Available now at                              the
months, one and two years and rarely for three years and five                                                   following branches:
years.                                                                                                          Trivandrum - Poojappura, Pettah,
Why FMPs are the best bet for NRIs: Applications on a                                                           Vazhuthacaud, Pattom, Chalai,
Repatriable basis will be made by remitting funds from abroad                                                   J a g a t h y, K a i t h a m u k k u ,
through normal banking channels or by submitting payments                                                       Karamana, Kesavadasapuram,
made by demand drafts/pay orders/banker's cheque or by                                                          Peroorkada, Thirumala,
cheques drawn on NRE accounts maintained with banks                                                             Vattiyoorkavu, VIkas Bhavan,
authorized to deal in foreign exchange in India.                                                                Kowdiar, Medical College,
                                                                                                                Trivandrum                 Main,
So NRIs get an opportunity to get better than domestic fixed
                                                                                                                Sasthamangalam,
deposit return on a post tax basis along with repatriation
benefit (maturity amount credited back to NRI account , if                                                      Ernakulam - Thoppumpady,
investment has come from NRI account)                                                                           Broadway, Elamakkara, Edapally,
                                                                                                                Kadavanthara, Kathrikadavu,
Contact for more information :                            ss.sureshkumar@sbimf.com
                                                                                                                Kalamasserry Main, Maradu,
Mob: +91 9745 22 1655
                                                                                                                Ve n n a l a , P e r u m a n o o r,
--------------------------------------------------------------------------------------------------------
                                                                                                                Palarivattom, Vyttila, Panampally
Interest Rates on NRE / FCNR DEPOSITS                                                                           Nagar, M G Road, Kaloor, NRI
(in %) w.e.f. 02.11.2011                                                                                        Branch, Tripunithura, High
                  Period        INR USD GBP EURO AUD CAD JPY                                                    Court Branch.
 1   year to less than 2 years 2.69 1.94 2.76 3.08 6.02 2.71 1.55
                                                                                                                Avail SBT Swarna Saphalyam :
 2   years to less than 3 years 2.36 1.61 2.37 2.55 5.28 2.18 1.36
                                                                                                                A loan facility to buy gold
 3   years to less than 4 years 2.52 1.77 2.50 2.68 5.37 2.35 1.38
 4   years to less than 5 years 2.52 2.05 2.69 2.85 5.62 2.53 1.43                                              coins from any of the above
 5   years                      2.52 2.37 2.89 3.04 5.75 2.72 1.49                                              branches.

                                                                             Disclaimer
     The information and opinion contained here in are gathered from various sources including press, without any liability on the part of SBT or its employees.
                                                         Your views and suggestions may please be sent to:
                             Shri Jayaprakash P.P. Chief Manager (NRI). NRI business department, State Bank of Travancore P.B. 2704
 H.O., Poojapura, Thiruvananthapuram-695012, Ph: Office 0471 2353720, Fax: 0471 2351836, Mob:94460970 e-mail: cmnri@sbt.co.in, jayaprakash.pp@sbt.co.in

								
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