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Presentation on Six Weeks Vocational Training at AXIS BANK (Forex Department)

By-

Indian Banking System

Introduction to axis bank. Promoted in 1994 by


LIC
UI GIC

OIC

UTI

NIC

NIIC

Current scenario
Earlier axis bank was known as UTI. It has its registered office in Ahemdabad and central office at Mumbai. VISION 2015:To be the preferred financial solutions provider excelling in customer delivery through insight, empowered employees and smart use of technology

4055 ATMS

1000 Branches

Corporate tie ups

Third party alliance.

Members of the Board


Dr Adarsh kishore Shikha Sahrma MM Agarwal
SBMathur RBL Vaish

RH Patil

MV Subhia
Rama B

JR Verma

Various Departments of Axis Bank


Personal Banking Department. Priority Banking. NRI Banking Department. Securities. Insurance. Investment Solutions Forex Department. Business Banking Department. Corporate Banking Department. Credit Laundering Department.

AXIS BANK FOREX BRANCHES IN LUDHIANA


Branch Name-The Mall Branch Id-042 Address-Lower Ground Floor, Boulevard, Plot No.105, Mall Road, Ludhiana 141001, Punjab, India MICR Code-141211002 SWIFT Code AXISINBB042 Branch NameMillerGanj Branch- Id 324 Address-B-15-179/1, Nirankari Kucha No. 4, Between Vishwakarma Chowk and Dholewal Chowk, Miller Ganj Punjab, India MICR Code-141211006 SWIFT -AXISINBB324

Functions of Forex Department Mall Road Ludhiana


Transfer through SWIFT Demand Drafts and Cheques Spot Contracts. Forward Contracts. Currency Options. Forward Rate Agreement. Currency Swaps

Organisational Chart.

Swot Analysis of Axis Bank

Financial Ratios
CURRENT RATIO Current Ratio = CurrentAssets Current Liabilities.
PARTICULARS

08-09(Rs.)

09-10(Rs)

Current Assets
Current Liabilities CURRENT RATIO

865443666
707768671 1.36

1019873018
893325459 1.14

ABSOLUTE LIQUID RATIO


Where, Absolute Liquid Assets = Cash in Hand + Cash at Bank + Marketable Securities
STANDARD Minimum 0.5:1

PARTICULARS Absolute Liquid Assets Current Liabilities A.L. RATIO

08-09 150168957 707768671 0.21

09-10 152064387 893325459 0.17

TOTAL DEBT TO EQUITY

Total Debt to Equity = Total Debt Shareholders Funds

Introduction to export finance


Export in simple words means selling goods abroad. International market being a very wide market, huge quantity of goods can be sold in the form of exports.

Success or failure of any export order mainly depends upon the finance available to execute the order .

Concept of Export finance.


The exporter may require short term, medium term or long term finance depending upon the types of goods to be exported and the terms of statement offered to overseas buyer. Export finance is short-term working capital finance allowed to an exporter. Finance and credit are available not only to help export production but also to sell to overseas customers on credit.

Purpose of Export Finance An exporter may avail financial assistance from any bank, which considers the ensuing factors: Availability of the funds at the required time to the exporter. Affordability of the cost of funds.

Types of Export Finance.


The export finance is being classified into two types viz. Pre-shipment finance.(180 days-270 days) Post-shipment finance. (180 days)

Some concepts of Export Finance


Forfeiting --is a mechanism of financing exports. By discounting export receivables Evidenced by bills of exchange or promissory notes. Without recourse to the seller (viz. exporter) On a fixed rate basis (discount) Upto 100 percent of the contract value.

FACTORING- A contract by which the factor is to provide


at least two of the services, (finance, the maintenance of accounts, the collection of receivables and protection against credit risks) and the supplier is to assigned to the factor on a continuing basis by way of sale or security, receivables arising from the sale of goods or supply of services. In simple words...Factoring turns your receivable into cash today, instead of waiting to be paid at a future date

Major Institutions Involved in Export Finance


Reserve Bank of India (RBI)- The RBI with its head
quarters in Mumbai and several regional offices is the central banks of our country to authorize extend and regulate export credit and transaction including foreign exchange affairs. RBI does not directly provide export finance to the exporters, but it adopts policies and initiates measures to encourage commercial banks and other financial institutions to provide liberal export finance.

Two Departments- i) Industrial and credit department


ii)Exchange Control Department

Exim Bank- Set up by an Act of Parliament in September 1981.


Wholly owned by the Government of India. Exim is the principal financial institution in the country for coordinating working of institutions engaged in financing exports and imports. Offices Head office Mumbai. A network of 13 offices in India and Overseas. Domestic Offices - Ahmedabad, Bangalore, Chennai, Hyderabad, Kolkata, Mumbai, New Delhi, Pune. Overseas Offices - Budapest, Johannesburg, Milan, Singapore, Washington DC.

Functions of Exim Bank.


From financing Facilitating India foreign trade and promoting Foreign trade. To creating export capability by arranging competitive financing at various stages of export cycle.
Providing Consultancy and high range of services to exporters.

ECGC- EXPORT CREDIT GUARANTEE CORPORATION OF INDIA LTD.


ECGC is a company wholly owned by the GOI. It functions under the administrative control of the Ministry of Commerce and is managed by a Board of Directors representing government, Banking, Insurance, Trade and Industry.

OBJECTIVES OF ECGC:
To protect the exporters against credit risks, i.e. nonrepayment by buyers To protect the banks against losses due to non-repayment of loans by exporters.

PRE-SHIPMENT FINANCE-Pre-shipment is also referred as packing credit. It is working capital finance provided by commercial banks to the exporter prior to shipment of goods. The finance required to meet various expenses before shipment of goods is called pre-shipment finance or packing credit.

IMPORTANCE OF FINANCE AT PRE-SHIPMENT STAGE: To purchase raw material, and other inputs to manufacture goods. To assemble the goods in the case of merchant exporters. To store the goods in suitable warehouses till the goods are shipped. To pay for packing, marking and labelling of goods.

SOME SCHEMES IN PRE-SHIPMENT STAGE OF FINANCE I. DEFERRED CREDIT-Consumer goods are normally sold on short term credit, normally for a period up to 180 days. However, there are cases, especially, in the case of export of capital goods and technological services; the credit period may extend beyond 180 days. Such exports were longer credit terms (beyond 180 days) is allowed by the exporter is called as deferred credit or deferred payment terms.

REDISCOUNTING OF EXPORT BILLS ABROAD (EBRD) SCHEME-This facility will be an additional window available to exporter along with the exiting rupee financing schemes to an exporter at post shipment stage. This facility will be available in all convertible currencies. This scheme will cover export bills upto 180 days from the date of shipment (inclusive of normal transit period and grace period) .

POST-SHIPMENT FINANCE
MEANING: Post shipment finance is provided to meet working capital requirements after the actual shipment of goods. It bridges the financial gap between the date of shipment and actual receipt of payment from overseas buyer thereof. Whereas the finance provided after shipment of goods is called postshipment finance.

Importance of Post Shipment Finance.


To pay to agents/distributors and others for their services. To pay for publicity and advertising in the over seas markets. To pay for port authorities, customs and shipping agents charges. To pay towards export duty or tax, if any. To pay towards ECGC premium.

Methods of Post Shipment Finance.


Export bills negotiated under L/C Purchase of export bills drawn under confirmed contracts Advance against Undrawn Balance of Bills: Advance against Deemed Exports Advance against bills under collection

Packing Credit for Rupee Expenditure for project export contracts


PACKING CREDIT FOR RUPEE EXPENDITURE FOR PROJECT EXPORT CONTRACTS (FREPEC). What is FREPEC Program

This program seeks to Finance Rupee Expenditure for Project Export Contracts, incurred by Indian companies.

What is the purpose of this Credit To enable Indian project exporters to meet Rupee expenditure incurred/required to be incurred for execution of overseas project export contracts such as for acquisition/purchase/acquisition of materials and equipment, acquisition of personnel, payments to be made in India to staff, sub-contractors, consultants and to meet project related overheads in Indian Rupees.

Foriegn Currency Preshipment Credit


The FCPC is available to exporting companies as well as commercial banks for lending to the former. It is an additional window to rupee packing credit scheme & available to cover both the domestic i.e. indigenous & imported inputs. The exporter has two options to avail him of export finance. To avail pre-shipment credit in rupees & then the post shipment credit either in rupees or in foreign currency denominated credit or discounting /rediscounting of export bills.

Tittle-comparative Analysis on Export finance execution by public and private banks in respect to Sme exporters in ludhiana zone.

Objectives of Research.
To compare export finance execution between public and private banks in respect to SME exporters in Ludhiana zone on the basis of various parameters ie maximum disbursement made to product or industry,centralized and decentralized system of loan scantioning,in terms of Base and bench prime lending rate,subvention rates,Turn around time,Bill realization charges. To compare among public and private banks that which sector of banks encourages new exporters in terms of fund based assistance.

To know that which industry or product will be financed aggressively by Public and private banks respectively to SME exporters in Ludhiana.

Research Methodology
Objectives of the study Research Design Sample Design

Data Analysis

Data collection

Research Design.
Research design specifies the methods and procedures for conducting a particular study. Research design is broadly classified into three types as: Exploratory Research Design. Descriptive Research Design. Causal Research Design. Our design is Descriptive Research Design.

SAMPLING DESIGN
A Sample Design is a definite plan for obtaining a sample from a given population. It refers to the technique to the procedure adopted in selecting items for the sampling designs are as below:

SAMPLE SIZE
Sample method Survey period

SAMPLE SIZE: The substantial portions of the target Banks in


Ludhiana that are sampled to achieve reliable result are 20 Banks. The cost and time limitation compelled us to select 20 respondents as sample size .

SAMPLING METHOD: In this research project, we are using Convenience sampling method. SAMPLE SIZE 20 banks. SAMPLE TYPE AREA SAMPLING Sample Area : Ludhiana

SAMPLING TECHNIQUE
We have taken the Statistical tool of percentage method to analysis and interpretation of the collected data. Convinience Sampling-

Collection of Data
DATA COLLECTION The study was conducted by the means of personal interview with respondents and the information given by them were directly recorded on questionnaire. COLLECTION TECHNIQUE: Questionnaire method is used in collection the data.

Banks Chosen For comparison


PUBLIC BANKS
State Bank of India. Bank Of India. Indian Bank. Syndicate Bank. Corporation Bank. Canara Bank. Central Bank of India. Punjab National Bank. SIDBI Vijaya Bank

PRIVATE BANKS
Icici Bank. HDFC Bank. Standard Charted Bank. Axis Bank. Catholic Serian Bank. Fedral Bank. City Bank. South Indian Bank. IndusInd Bank. Yes Bank.

Data Analysis Public Banks


MAXIMUM DISBURSEMENT MADE TO LUDHIANA
SME EXPORTERS BY PUBLIC BANKs IN Ludhiana

Interpretation

60 % of public banks do not disburse more than 50 crores annually to Ludhiana SME export houses. These include Vijaya Bank. Indian Bank. SIDBI. Syndicate Bank. Corporation Bank. Central Bank. While 30% of public banks Disburse more than 150 crore Rupees which include State Bank of India. Bank of India. Canara Bank. While 10% Banks make disbursement of Rs. 50-100 crores that is Punjab national bank.

Sectorwise Maximum Disbursement.

Interpretation

30% of public banks in Ludhiana Disburse maximum to Ludhiana Bi-cycle Sme exporters. These include State Bank of India. Bank of India. Indian Bank. Whereas 40% of finance is disbursed to Hosiery SME exporters. These include Canara Bank. Central Bank. Syndicate Bank. Vijaya Bank. While 20% of the Banks go for disbursement in Yarn. These include Corporation Bank. SIDBI(Small Industries Development Bank of India). While 10% of the banks that is Punjab National Bank Go out to Disburse Iron and Steel the most.

LOAN SANCTIONING POWER

Interpretation

10% of the Public Banks havecentralized sanctioning system and have nil sanctioning Power i.e Vijaya Bank. While 20% of the banks have Sanctioning Power of Rupees Less than 1crore.These include Central Bank of India,Indian Bank. While 50 % of the Public banks have sanctioning power of Rs 1 crore- Rs 5 crore. These include. SIDBI (Small Industries Development Bank Of India) Bank of India. Corporation Bank. Syndicate Bank,Canara Bank. While 10% of the public Bank, has the sanctioning power of Rs 1 crore which is State Bank of India. While 10% of the Public Bank, has the sanctioning power of More than Rs 5 crore. That is Punjab National Bank.

Sector or product considered safe to fund.

Interpretation
20% of the Public Banks Consider Bi-cycle Sme Export as the safe area to Fund. These Include State Bank of India. Bank of India. While 20% of the Banks Consider Hosiery Sme exporters as the safe area to fund. These Include Vijaya Bank. Central Bank of India. And 20% of the Banks consider Hand Tool Sme exporters as safe area to fund .These Include Indian Bank. Syndicate Bank. While 30% of the Banks consider all the products safe to fund depending upon the proposal and reputation of the exporter. These Include SIDBI. Canara Bank. Punjab National Bank. 10 % go for yarn that is corporation Bank.

Subvention offered
90% 80%
70% 60% 0%-2%

Interpretation
The Fig shows the subvention rate offered to the Ludhiana SME exporters and 90% of the Banks subvent 0%-2%.These include State Bank of India. Punjab National. Bank of India. Indian Bank. Corporation Bank. Vijaya Bank. Syndicate Bank. Canara Bank. Central Bank of India. While 10% of the public Bank that is SIDBI has fixed Lending Rate and does not any kind of Subvention to the SME exporters.

50% 40%
30% 20%

2%-4% 4%-6%
Any other NA

10%

0%
Question 6

In terms of Fund Based assitence to new exporters

Interpretation
60% of the Public Banks state that they encourage new exporters and provide them complete fund based assistance as they do to old exporters. These Include State Bank of India. Punjab National. Bank of India. Indian Bank. Corporation Bank. Vijaya Bank. While 40% of the banks stay neutral while providing fund based assistance to new exporters. These include Syndicate Bank. Canara Bank. Indian Bank. SIDBI.

In terms of Turn Around Time.

Interpretation
60 % of the Public banks disburse the case with in the time span of 0-2 days. These include State Bank of India Punjab National Bank Bank of India. State Bank of India. Indian Bank. Central Bank of India. While 10% of the Public Banks taken take 2-4days to disburse the case that is SIDBI (Small industries Development Bank of India.) While 10% of the banks take 4-6 days to disburse the case that is Coporation Bank. While 20% of the banks take more than 6 days to disburse the case that includes Syndicate Bank. Vijaya bank.

Processing Fee Charges

Interpretation
60% of the Public Banks charge 0.6-1% of the Loan amount as the processing fee.These include Bank of India. Syndicate Bank. SIDBI. Canara Bank. Vijaya Bank . Canara Bank. While 40% of the Public Banks charge 0.1-0.5% of the loan amount.Thes include Indian Bank. Punjab National Bank. State Bank of India. Central Bank of India. While no bank charges 0% and more than 1% of the processing fee.

In Terms of Bill Realisation Charges

Interpretation
10% of the banks have Nil Bill realization charges. That is Canara Bank. The Fig also represents that 20% of the banks charge Rs 500 + Service Tax. That includes Central Bank of India. Punjab National Bank. The Fig also represents that 50% of the banks charge 1000+ST of the Bill as Bill realization Charges. These includes Vijaya Bank . Corporation Bank. Syndicate Bank . Indian Bank. SIDBI. The above Fig also Represents that 10 % of the Banks charge more than Rs 1000+ST that is Bank of India. While in the research State Bank of India Charges Minimum Rs 700 or 0.15% of the Bill.

In terms of Balancesheets and ITR required

Interpretation
The above Fig represent that Number of years of Balance Sheets Required and Income Tax Return Required to Furnish to the bank for Export Finance. These include all the public banks require for three years. State Bank of India. Punjab National. Bank of India. Indian Bank. Corporation Bank. Vijaya Bank. Syndicate Bank. Canara Bank. Central Bank of India. SIDBI.

Opinion of banks to fund SME exporters aggresively in coming two years.

Interpretation
30% of Banks said that they will go for Bi-cycle these include SBI,PNB,Indian Bank. 60% will go for Textile out of which 40% will go for yarn and 20% will go for Hosiery these include corporation Bank,SIDBI,Syndicate Bank,Vijaya Bank. And 20% comprise of Canara and Bank of India. Whlie Central Bank of India will go for Hand Tool.

60%

50%
40%

Bi-cycle

Textile Yarn

30%
20% 10% 0%

option b.3 option c option d

Category 1

Comparison in terms of Rate of Interest


SNO 1 2 3 4 5 6 Name of Bank SBI PNB BANK OF INDIA CENTRAL BANK OF INDIA CORPORATION BANK OF INDIA SIDBI BPLR 11.75% 11% 12% 12% 12% 11% BASE RATE 7% 8% 8% 8% 7.75% 7.5%

7 8 9 10

INDIAN BANK SYNDICATE BANK VIJAYA BANK CANARA BANK

12.50% 12% 12.15% 12%

8% 8.25% 8.25% 8%

The above table represents the comparison between the BPLR and Base rates between the public banks. From the above table it is clear that PUNJAB NATIONAL BANK and SIDBI come up with the lowest BPLR and PNB also goes to subvent up to 2% there by making lending rate more lower, however SIDBI does not go out for further subvention. SBI stands out to have the lowest Base rate that is 7%.

Private Banks Disbursement made by pvt


banks.

Interpretation.

60% of private banks do not disburse more than 50 crores annually to Ludhiana SME export houses. In these 60% the private banks areCatholic Bank Federal Bank IndusInd Bank South Indian Bank Standard Chartered Yes Bank While 40% of private banks disburse more than 150 crore rupees which includeAxis Bank Citi Bank HDFC Bank ICICI Bank

Industry-productwise disbursement

Interpretation
0% of private banks in Ludhiana Disburse maximum to Ludhiana Bi-cycle Sme exporters. Whereas 30% of finance is disbursed to Hosiery SME exporters. These include Axis Bank. Citi Bank. HDFC Bank. While 60% of the Banks go for disbursement in Yarn. These include Catholic Syrian Bank. Federal Bank. ICICI Bank. IndusInd Bank. South Indian Bank. Standard Chartered. While 10% of the banks that is Yes Bank goes out to Disburse Iron and Steel the most.

In terms on Loan scantioning Power

Interpretation
60% of the Private Banks have a centralized sanctioning system and have nil sanctioning Power. Which includes: Catholic Syrian Bank. Citi Bank. HDFC Bank. IndusInd Bank. Standard Chartered Bank. Yes Bank. While 10% of the banks have Sanctioning Power of Rupees Less than 1crore.These include South Indian Bank. While 0 % of the Public banks have sanctioning power of Rs 1 crore- Rs 5 crore. While 30% of the Banks, have the sanctioning power of Rs 1 crore which are Axis Bank. Federal Bank. ICICI Bank. While 0% of the Private Banks, has the sanctioning power of More than Rs 5 crore.

SECTOR OR PRODUCT WHICH IS CONSIDERED AS SAFE ZONE TO FUND

Interpretation
10% of the Private Banks Consider Bi-cycle Sme Export as the safe area to Fund. These Include ICICI Bank. While 40% of the Banks Consider Hosiery Sme exporters as the safe area to fund. These Include AxisBank. Citi Bank. South Indian Bank. Yes Bank. And 30% of the Banks consider Hand Tool Sme exporters as safe area to fund .These Include Catholic Syrian Bank. Federal Bank. IndusInd Bank. Hand Tools is supported by 20% of the banks. Standard Chartered ICICI Bank. While 10% of the Banks consider all the products safe to fund depending upon the proposal and reputation of the exporter. That is HDFC Bank

SUBVENTION RATES OFFERED BY PUBLIC BANKS TO SME EXPORTERS

Interpretation
The above Fig shows the subvention rate offered to the Ludhiana SME exporters and 70% of the Public Banks subvent 0%-2%.These include Axis Bank. Catholic Syrian Bank. Citi Bank. Federal Bank. ICICI Bank. IndusIndBank. Yes Bank. While 10% of the public Bank that is Standard Chartered allows Subvention of 2-4% to the exporters. While 20% banks subvent 4-6% HDFC Bank. South Indian Bank.

BANKS IN TERMS OF FUND BASED ASSISTANCE TO NEW EXPORTERS

Interpretation
The above fig clearly shows that 0% of the Private Banks encourage new exporters and do not provide them any fund based assistance as they do to old exporters. By new exporters it means that an exporter without any Income tax Return and Balace Sheets. While 40% of the banks stay neutral while providing fund based assistance to new exporters. These include ICICI Bank. IndusInd Bank. Standard Chartered Bank. South Indian Bank. Whereas 60% of the the private banks said that they are very rigid in providing any assistance to new exporters. Which are: Axis Bank. Catholic Syrian Bank. Citi Bank. Federal Bank. HDFC Bank. Yes Bank.

TURN AROUND TIME FOR DISBURSEMENT AFTER SUBMISSION OF DOCUMENTS

Interpretation
From the above fig it is clear that 10 % of the Private banks, i.e. Axis Bank disburse the case with in the time span of 0-2 days. While 10% of the Private Banks, i.e. Yes Bank takes 2-4days to disburse the case. While 10% of the banks take 4-6 days to disburse the case that is ICICI Bank. While 70% of the banks take more than 6 days to disburse the case that includes Catholic Syrian Bank. Citi Bank. Federal Bank. HDFC Bank. IndusInd Bank.South Indian Bank.Standard Chartered Bank

PROCESSING FEE CHARGES Interpretation


The above fig represents the processing fee charges charged by the Public Banks. 60% of the Private Banks charge 0.1-0.5% of the Loan amount as the processing fee. These include Federal Bank. HDFC Bank. ICICI Bank. South Indian Bank. Standard Chartered Bank. While 50% of the Public Banks charge 0.6-1% of the loan amount. These include Axis Bank. Catholic Syrian Bank. Citi Bank. IndusInd Bank. Yes Bank. While no bank charges 0% and more than 1% of the processing fee

IN TERMS OF INCOME TAX RETURN REQUIRED

Interpretation
Shows that only 1 bank that is federal bank requires the income tax return for 1 year to be submitted by the SME exporters, rest all the private banks considered by us require income tax returns for 3 years

IN terms of funding sector wise in next two years

Interpretation The above figure shows a very scattered response of the banks when they were asked about the industry that they feel will be booming in the next 2 years. 10% of the private banks, i.e. axis bank said that bicycle industry will be aggressively funded in the next two years.

Comparison in Terms of Interest Rates in Private Banks


SNO 1 2 3 4 5 6 7 8 9 10 Name of Bank BPLR Standard Charted Bank City Bank Axis Bank South Indian Bank ICICI Bank Catholic Serian Bank Fedral Bank HDFC Bnak Indusind Bank Yes Bank 16% 15% 14.75% 16.% 15.75% 14.75% 15.25% 15.75% 16.75% 16.50% Base Rate 7.25% 7.5% 7.50% 8.10% 7.5% 8% 7.75% 7.5% 7% 7%

Interpretation
From the above table it is clear that. IndusInd Bank lends out with Highest BPLR that is 16.75% but on the same hand the base rate is 7%. Whereas Yes Bank has lowest Base Rate that is 7% with indusind bank. Where as the Leading Banks HDFC and ICICI stand common in terms of BPLR as well as base rate.

Conclusion and findings


Export Finance is a very important branch to study & understand the overall gamut of the international finance market. Availability of favorable Export finance schemes directly impacts the local trade, encourages exporters, enlarges markets abroad, improves quality of domestic goods and overall helps the nation boost its exchange earnings.

Comparison
60% of public banks do not disburse more than 50cr annually to Ludhiana SME export houses. Where as 40% of the Public Banks disburse finance to Hoseiry exporters. While 50 % of the Public banks have scantioning power of Rs 1 crore- Rs 5 crore that means they have De-centralised system of Funding. 60 % of the private banks also donot disburse more than 50cr to SME exporters in Ludhiana. Where as 60% of the Private banks go to Disburse for Yarn. 60%of the Private Banks have NILL scantioning power at their end and have centralized system and get the cases approved from their respective corporate offices.

In terms of Safe funding industry Public banks(30%) consider all viable projects safe to fund. Public Banks Have less rate of Interest. And in terms of subvention 90% of the public banks subvent 0-2%.

In case of Private Banks maximum Private Banks(60%) find Bicycle Sme exporters safe to fund.

Have more rate of Interest.


Where as 50% of the private banks subvent 0-2% but 40% of the private banks subvent more 4-6% down their lending rates to be in competition with public banks

In terms of fund based assistance to the new exporters Public banks completely over ruled Private Banks as 60% of said that they provide maximum complete fund based assistance to fresh exporters. In terms of processing fee charges 60% of the public banks charge 0.6%-1%

Where as no private bank said that it encourages most to new exporters.


50% of the private banks charge the same however the processing fee charges could be reduced but it depends upon the reputation of exporter and discretion of the Bank

In terms of Bill realization charges only 50% public banks charge Rs 1000+service tax. However in terms of Income tax returns and Balance sheets required both Public and private banks are equal.

Where as all the private banks charge Rs 1000+service tax that makes public banks better than private banks. But in terms of customer attention and co-operation Private banks are better than Public Banks however ING VYSYA Bank is an exception.

Thank you