Tirupur, May 1 (KNN) Lakshmi Vilas Bank has launched a specialized current account for the exporter community at an attractive pricing of Rs 75 on a host of remittance, trade and forex transactions.

The account titled ‘Just A Dollar’ was launched at Tirupur by President of Tirupur Exporters Association (TEA) Raja M Shanmugham in the presence of Peeush Jain, Head- Retail Banking, Lakshmi Vilas Bank, said a bank release.

Pricing for trade and foreign exchange transactions by banks are often pegged as a percentage of the value of transactions. But for customers, costs of such transactions can often run into several hundreds, thousands, or even lakhs of rupees. However, this product is applicable solely to customers or entities that have Import Export Code, it said.

On the occasion, Jain said “We are pleased to launch ‘JU$T A Dollar’ account in association with Tirupur Exporters Association. Proposed solution will significantly bring down transaction costs, and emerge as an interesting proposition for importers, exporters, and entities involved in both domestic and international trade transactions”.

Published On : 01-05-2019

Source : KNN India