Program on Foreign Exchange & Financing of Foreign Trade
With increased global trade, branches at many centers are being called upon to handle forex transactions connected to exports and imports, resulting in all-round demand within banks for officers trained in forex transactions. Furthermore, there is increased regulatory stress on compliance aspects with regard to import & export transactions. This course is designed to deliver knowledge and skills in this specialized area and prepare the participants for managing the day-to-day Transactions.
Duration : 5 days
Target Group: Newly posted officers in Scale-I/II handling foreign exchange and foreign trade transactions at “B” Category branches or who have been identified for such assignments. No previous experience in handling forex and foreign trade transactions is assumed.
Objectives: At the end of the program, the participants would have gained:
- Basic knowledge of forex market, market players, quoting of buying & selling rates for spot and forward transactions, forward contracts & options, market terminology.
- Detailed understanding of procedures for handling pre-shipment credit and post-shipment credit and ECGC's credit insurance products for banks & exporters.
- Familiarity with LC as payment mechanism in foreign trade, and various types of LCs used in foreign trade.
- Detailed understanding of procedures for handling import transactions and Trade Credit for imports.
- Knowledge of NRI accounts and other facilities available for NRIs.
Basics of foreign exchange: forex market, players and market terminology
Quoting of buying & selling rates for spot and forward transactions
Quoting of buying & selling rates for forward contracts and options
Introduction to dealing room operations
Letters of Credit in Foreign Trade, INCO terms, UCPDC.
Export credit in Indian and foreign currencies, other facilities to exporters.
Role of ECGC.
Import Finance through LC and Trade Credit.
Follow up of import & export transactions
Reporting of transactions to RBI.
Profitability of foreign exchange business to banks.
Marketing of forex business and export credit.
A specialized and custom bank program to groom change leaders and transform organizations.
For officers in Scale-I/II who have been posted recently or identified for posting as Branch Managers for the first time in their career.
For Branch Managers who have been on assignment for 12-18 months, showing good performance and potential for taking up higher responsibilities.
For Officers identified for handling credit function across the bank/offices.
For Officers identified for leadership positions in the Middle Management.
For newly posted officers in Scale-I/II handling foreign exchange and foreign trade transactions at “B” Category branches or who have been identified for such assignments. No previous experience in handling forex and foreign trade transactions is assumed.
For Relationship Managers assigned to MSME clients, who are newly-recruited or who have been working in the role for less than a year.
For Officers or assistants joining the Bank at the entry level.