Mumbai Branch

ab-bank-mumbai-branch

AB Bank Limited 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:

  • To be the innovative bank of Bangladesh in India
  • To increase Business relationship between India & Bangladesh
  • To be a sound customer centric efficient bank from Bangladesh
  • To facilitate Indo-Bangla trade for mutual economic benefits
  • To be a Banking bridge between India and Bangladesh for mutual economic prosperity

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 & Transaction Hour
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
Correspondent Banking

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
Export Business
  • Pre Export credit like packing credit
  • Post Export Finance like Negotiation & Discounting of Export Bills
  • Handling of Inland L/Cs
Import Business
  • Issuance of Letter of Credit
  • Post import Finance in the form of Trust Receipt
Corporate Banking

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
Retail 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.

SME & MSME Banking

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

General Banking

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

  • 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.
Grievance Re-dressal & Nodal Officer

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 : Pramod Mazumdar
Designation : Senior Relationship Manager
Telephone Number : +91-22-66332853
Mobile Number : +91-9619191674
Email : pramod@abbl.com