State Bank of India on Friday launched “SBI eforex”, an internet-based platform that enables customers to book their foreign exchange transactions online.
This platform will facilitate the customers of the bank to obtain forex rates without having to physically visit the branch, the bank said in a statement.
It offers customers the facility to customize and set their own limits for deal size, daily transaction limits etc. Details of all deals done are made available to the users on a real-time basis.
e-forex is SBI's second forex technology initiative in the last two months after the launch of SBI “Fx Out”, which enables sending of foreign currency remittances from any of its branches in India.