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07 Jul 2020, Edition - 1820, Tuesday

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Coimbatore

LVB launches specialised account for exporters

Covai Post Network

Coimbatore : Lakshmi Vilas Bank (LVB) has launched a specialised current account for the benefit of exporters.

‘JU$T A Dollar’ is an exclusive account catering to the requirements of the exporter community at an attractive pricing of Rs 75 on a host of remittance, trade and forex transactions.

This product was launched at Tirupur yesterday by Tirupur Exporters Association President. Raja M Shanmugham in the presence of Peeush Jain, Head- Retail Banking, Lakshmi Vilas Bank, a bank release said Today.

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.

*“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, Jain said.

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