Correspondent Banking Network Services
Axis Bank has one of the largest Correspondent Banking Networks in India, having a relationship with over 1000+ banks worldwide, across 100 countries. Through its network of partner banks across the world, Axis Bank provides its customers a one-stop solution for Correspondent Banking Services.
The Correspondent Banking Services include Nostro Accounts, local clearing services, international trade and commerce solutions, funding solutions, treasury services, strategic alliances as well as inward & outward foreign currency remittances. Axis Bank’s Correspondent Banking Network and Services offers value to its customers through its strong domestic network, international presence at key locations and wide range of global correspondent banking services.
Our Correspondent Banking Network
We maintain one of the largest Correspondent Banking Networks in India. Currently, we have relationships with over 1000+ banks worldwide across 100 countries, thereby providing our customers a widespread global reach. We have been able to provide one-stop solution to our customers for all their global banking needs through this network of partner banks across the world. The list of major Nostro Accounts can be viewed here.
Our Correspondent Banking Services
We bring value to You and Your Customers through our strong domestic network, international presence at key locations, our relationship-based approach, and our wide range of global correspondent banking services. We facilitate International Trade and Commerce for our Correspondent Banks and offer following specialized services:
- Nostro Accounts in India and at our overseas branches for settling local currency payments
- ACU Dollar and Euro Accounts in India and Sri Lanka for settlement of payments under the ACU mechanism
Local clearing services
- Customized Payment programs thereby providing mutual benefits. Our processing rates are among the best in the country.
International trade and commerce solutions
- We offer the entire gamut of trade finance solutions. Our standard processes result in quicker turn-around-time.
- External Credit Agency Funding – Arrangement of funding for imports from countries having Export Credit Agency focus
- Resource Arrangement- Trade loans, medium to long term loans including funding from Development Finance Institutions, Multilateral Agencies, Export Promotion Agencies in various countries
- SBLC backed WCDL, short term, long term financing
- Full range of Treasury Services including Forex, Hedging, Derivatives, Custody services
Inward & Outward Foreign Currency Remittances.
- Robust infrastructure and technology-backed solutions for processing payments with STP / host-to-host connectivity
- Secondary market sale and purchase of bank risk through MRPA, assignment of proceeds and other avenues
- Local support for each other’s customers through referral program
- Advisory services to your customers through our Local Branch Offices for initial office set-up, filing application to RBI, local banking services.
- Comprehensive bouquet of products & services to your customers, ranging from Cash & Clearing, Payments & Collections, and Trade finance, to Credit and Treasury.
- Segmented offering for different customers segments with industry specific accounts and specialized credit solutions for SME and Emerging Enterprises.
- Nostro Accounts