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Export / Import Services

International Banking: The International Banking Service performs a vital role in Exports and Imports of the country. The various facilities provided by the bank to the Exporter/Importer for smooth Exports/Imports is listed below:

Exports

The Facilities provided by the bank to exporters includes:

Pre-shipment Finance: Pre-shipment finance also broadly known as Packing Credit is the advanceprovided by a bank to an exporter for financing the purchase, processing, manufacturing or packing of goods prior to shipment on production of confirmed order/Letter of Credit issued by an Overseas Buyers. Exporter must fulfill the following main criteria to be eligible for availing Packing Credit. Packing Credit can be availed in Indian Rupees / Foreign Currency.

  • Must hold Importer-Exporter Code (IEC) number allotted by DGFT.
  • Must not be in Caution List of Exporters of RBI.
  • Must have an export commitment/order and has capacity to fulfill the same.

Post-shipment Finance: Post-shipment finance provided by the bank includes the following:

  • Export Bills Purchase/Discounting/Negotiation in Indian Rupees
  • Export Bills Purchase/Discounting/Negotiation in Foreign Currency
  • Advance against export bills sent for collection.

Non-Fund Based Finance: The Bank provides services for issuance of Guarantees on behalf of Indian Exporters for purposes related to Exports such as

  • Performance
  • Bid Bonds
  • Advance Payments

Others Services:The Other Services extended to the exporters are:

  • Advising/ Confirmation of Export Letters of Credit.
  • Collection of Export Bills
  • Foreign Currency Account for exports such as Exchange Earners Foreign Currency (EEFC) account.
  • Remittance facility related to International trade and payments.

All the facilities are subject to the prevalent rules of the Bank/RBI/FEDAI guidelines.

Imports:

The Facilities provided by the bank to importers include:

Collection/Payment of Import Bills: The import bills are collected through authorized branches at very competitive rates. The Bank has correspondent relationship with reputed International Banks through the Globe enabling the bank to provide efficient services to the importer.

Opening/Establishing Import LCs (Sight/DA): Punjab & Sind Bank offers L/C facility for the buyer of goods from overseas sellers.

Issuing Guarantees on behalf of Importers: Punjab & Sind bank on behalf of the Importers issues guarantees in favour of beneficiaries abroad.

Financing of Imports by way of Foreign Currency Loans.

External Commercial Borrowing (ECB) & Trade Credits

External Commercial Borrowings (ECB): Bank facilitates corporates in sourcing their External Commercial Borrowings.

Trade Credits: Bank also arranges Buyer's Credit from the Foreign Banks for importers at competitive rates.

All the facilities are subject to the prevalent rules of the Bank/RBI/FEDAI guidelines.

 

 

For Hot Listing (Blocking)
ATM/Rupay Cards
1800-103-2278
044-47415691/2/3/4/5
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(By Missed Call) 9223984344 (Toll Free)
All India Toll Free 1800-419-8300