Press Releases2016

Nov 11, 2016
Essel Finance VKC Forex Ltd to distribute SBI Foreign Travel card

Essel Finance VKC Forex Ltd signs an alliance with SBI for distribution and sale of travel prepaid cards in India. SBI prepaid card is available in 8 currencies and will target the corporate customers of the bank. This partnership will fortify Essel Finance VKC Forex as one of the largest players in retail Foreign Exchange Services.

The agreement was exchanged between Amitabh Chaturvedi, MD Essel Finance and Mrs.Manju Agarwal, DMD (Digital Banking & New Businesses) State Bank of India.

Mr. Amitabh Chaturvedi, Managing Director, Essel Finance, said,  "We are delighted to partner with SBI to offer the entire gamut of Forex services and the SBI Travel card to its Corporate customer base. Essel Finance VKC Forex  Ltd has an enviable track record in the distribution & servicing of forex travel cards and this association with SBI is a great opportunity to service large corporates."

Speaking at the launch, Mrs. Manju Agarwal, Deputy Managing Director (Digital Banking and New Businesses) State Bank of India said, The Bank is excited, as this alliance will supplement its distribution reach which is already very deep in the consumer segment. The partnership with Essel Finance VKC Forex Ltd will help the bank to serve their corporate segment Customers with their specialised service delivery channel. The pilot will be initiated in select branches in Chennai and based on the learning will be expanded across the country in near future.

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