State Bank of Travancore (SBT), an associate of State Bank of India, has opened a Forex Advisory Centre at its Commercial Branch at Ravipuram (Kochi), offering free advisory and counselling service to businesses across the State on matters related to foreign exchange.Under the new scheme, named the Regional Treasury Marketing Unit (RTMU), the bank will provide market updates twice daily to corporates, manufacturers and small businesses. The centre's advisory services, especially on the Dollar-Rupee movements and the forward premia changes will also be available to Non-Resident Keralites for their remittance purposes.
State Bank of Travancore (SBT) was incorporated in 1945 as Travancore Bank sponsored by the erstwhile princely state of Travancore. Under a special statute of the Indian Parliament (SBI subsidiary Banks Act 1959) it has been made an Associate of the State Bank of India and a member of the State Bank Group, the largest banking group in India. The Bank is alive to its developmental role and actively participates in meeting need based requirements of Small and Medium Enterprises and Agriculture.
