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| Prithvi Exchange - An FFMC obtained Authorized Dealer Category II Licence from RBI |
| Announcement / Banking Nov 23, 2009, 19:46 IST |
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Prithvi Exchange a division of Prithvi Softech Limited, a listed Public Limited Company was established in 1995. Prithvi is one the few Money Changers to get Licence from RBI to operate as Full Fledged Money Changers at that time.
ELEVATION TO AD CATEGORY II
Evaluating the level of compliance of rules and regulations laid down by various regulatory authorities during its tenure in the business, Prithvi has been upgraded to the status of Authorized Dealer Category II by RBI, making it as one of the first FFMCs to obtain this Licence in South India.
RANGE OF ADDITIONAL BUSINESS
With upgradation to AD Category II status Prithvi can do the following range of Foreign Exchange Services.
- Purchase (Encashment) of Foreign Currencies and Traveller Cheques.
- Release (Sale) of Foreign Currencies, Traveller Cheques, Foreign Currency Prepaid Cards and issue Foreign Currency drafts and Telegraphic Transfers for the following purposes.
a) Private Visits
b) Business Visits
c) Remittance by tour operators / principals / hotels,
d) Fee for participation in Global conferences and specialized training,
e) Remittance of participation in international events / competitions.
f) Film shooting
g) Medical Treatment abroad,
h) Disbursement of crew wages,
i) Overseas Education,
j) Remittance under educational tie up arrangements with universities abroad,
k) Remittance towards fees for examinations held in India and abroad and additional score sheets for GRE, TOEFL etc.,
l) Employment and processing, assessment fees for overseas job applications,
m) Emigration and Emigration Consultancy Fees,
n) VISA fees,
o) Registration / Subscription / Membership fees to International Organizations.
PRITHVI NETWORK
Prithvi is in Foreign Exchange Business for the past 12 years. The company has 16 branches spread all over India. The 6 branches are located in Chennai, 3 branches in Bangalore, 3 in Hyderabad, 3 in Goa and 1 in Mahabalipuram. All the branches are located at strategic locations.
OPERATIONAL EXCELLANCE & CUSTOMER SATISFACTION
American Express Travel Related Services (TRS) has presented the Golden Eagle Award to Prithvi for year on year growth on sale of their Traveller Cheques.
Prithvi serves the public to their convenience by functioning from 9.30 am to 7.00 pm and by extending doorstep delivery of Foreign Exchange by their competent, dedicated professionals.
CONTINUOUS GROWTH
Mr. Ashok Kumar Kavad the Managing Director of company has told that the expertise is required to handle these new Products for which their staffs are fully trained. Further he said that there is a good scope for increase in the volume of business with these additional products in their hand. He expects the business to grow additionally by one million US Dollars per month in a year s time.
Expansion plans are on the cards in India and Abroad. In India the company is planning to expand immediately in Madurai, Trichy, Coimbatore, Vijayavada, Cochin, and Trivandrum. Abroad the company is planning to expand in Colombo, Srilanka.
The main focus of the company is to give best services with best conversion rates. The public can get in touch with the company and utilize the services whenever they want to buy or sell the Foreign Currency and remit Foreign Exchange for any one of the permitted purposes mentioned above. The rates for encashment of Foreign Currencies and Traveller Cheques being BEST RATES IN INDIA are available online in their Website www.prithvifx.com.
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