AB Bank PLC. established its first full-fledged overseas branch at Mumbai, India in the year 1996 as a foreign company under the provisions of the Companies Act, 1956 of India. The Indian Branch of the Bank encompasses all the conventional banking facilities. The branch focuses more on the Correspondent banking business which facilitates Indo-Bangla trade to increase business relationship between India & Bangladesh for mutual economic benefits of both the countries. The branch is under Authorized Dealer (AD) category and has a real-time on-line link with Head Office in Dhaka, Bangladesh and is also a member of SWIFT.
In brief, the overseas branch in Mumbai was opened by AB:
PRODUCTS: Mumbai Operations include a wide variety of products in line with Reserve Bank of India’s (RBI) instructions to meet the changing need and demand of the customers as under:
| Office Timing | : Monday to Saturday from 10.00 A.M to 5.30 P.M (Except 2nd & 4th Saturday) |
| Transaction Hour | : 10.30 A.M. to 2.30 P.M |
| Weekly Holiday | : Sunday and 2nd & 4th Saturday |
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;
Mumbai operation serves corporate customers as per their need and demand and provides complete range of services using the financial tools like;
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
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
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:
| Name | : | Md. Abul Kalam Azad |
| Designation | : | Senior Vice President & Chief Compliance Officer (CCO) |
| Telephone Number | : | Phone: +91-22-22074129 (Direct), +91-22-22005392, +91-22-22005393, +91-22-22074113 Extn: 20 |
| Mobile Number | : | +91 9987840563 |
| : | akazad@abbl.com |
Dormant/Inactive Accounts are accounts which have not been operated for the last 2 years.
Process to be followed to operationalize the account:
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