Mumbai Branch maintaining account relationship with renowned financial conglomerate like Jpmorgan Chase Bank, HSBC, Commerz Bank AG to facilitate its trade related services. It also maintains VOSTRO accounts under Asian Clearing Union (ACU) mechanism with a number of banks and handling good volume of trade finance related business. The branch is manned and managed by an experienced and potential professional team committed to provide efficient and quality services to our correspondents. Correspondent banking business includes;

• Maintaining of account & Business relationship
• Advising, confirming of Letter of Credit & Bill discounting
• Bank to Bank payment settlement / Reimbursement of Payment

• Pre Export credit like packing credit
• Post Export Finance like Negotiation & Discounting of Export Bills
• Handling of Inland L/Cs

• Issuance of Letter of Credit
• Post import Finance in the form of Trust Receipt

Mumbai operation serves corporate customers as per their need and demand and provides complete range of services using the financial tools like;

• Working capital finance – in the form of Overdraft & Cash Credit, Term / Time Loan
• Consortium finance / multiple banking

Bank provide personal loan in the form of overdraft / cash credit to meet financing requirement maximum 80% of security i.e against Lien over Fixed Deposit.

Considering the importance, Bank extends credit in SME & MSME sector which is one of the priorities of the Government of India.

Bank provides general banking services in the areas as under;

Account Opening: Various types of accounts are opened as under

• Savings Account
• Current Account
• Fixed Deposit Account
• NRO & NRE account
• Basic Savings Bank Account (BSBD) / No Frill Account
• FC Accounts

Interbank fund transfer through RTGS, NEFT to enable customers’ online TAX payment and also issues Payment Order and Demand Draft

Clearing Service: As a sub-member of HDFC Bank, all clearing & collection related services

• Unclaimed Deposit accounts are accounts which have not been operated for the last 10 years.
• Process to be followed to operationalize the account:

• Customers to visit the branch in person.
• A letter to be submitted to the branch stating the reason for non-operations along with.

• – In case of Individual Accounts :
  • Valid ID & Address proof documents
• – In Case of Non-individual Accounts :
  • Request should be provided on company’s letterhead, signed off by the authorized signatories along with valid ID & Address proof document.

• Unclaimed Deposits list

Branch has arrangement for redressal of customer’s grievances /complaints. Branch installed a physical complaint box in the premises and customers can reach the Nodal Officer as under:

• List of Dormant/ Inactive Saving Accounts
• List of Dormant/ Inactive Current Accounts

Dormant/Inactive Accounts are accounts which have not been operated for the last 2 years.
Process to be followed to operationalize the account:

• Customers to visit the branch in person.
• A letter to be submitted to the branch stating the reason for non-operations along with.
• – In case of Individual Accounts :
  Valid ID & Address proof documents
• – In Case of Non-individual Accounts :
  Request should be provided on company’s letterhead, signed off by the authorized signatories along with valid ID & Address proof document.

• Term/ Fixed Deposit Rates
• Service Charges

AB Bank PLC. Mumbai Branch is registered with DICGC

DICGC Website