Foreign Currency Demand Drafts now available at FCH CentrumDirect outlets across India

FCH Centrum Direct Ltd., a Category II Authorised Dealer is now equipped to issue Foreign Currency Demand Drafts in various currencies across the counter apart from other outward remittance facilities to cater to its growing clientele.

Any resident individual availing outward remittance facilities for purposes ranging from overseas studies, visa & university application fees, tour cost remittance, registration, subscription, membership and a host of other purposes approved by the Reserve Bank of India can now process these transactions at any of FCH CentrumDirect Ltd. offices in Mumbai w.e.f 1st February 2010.

The outward remittance facilities will be available on pan India basis. In first phase, it will be available in 10 branches out of total number of 60 plus branches of FCH Centrum Direct Ltd.  The key focus markets in are Mumbai, NCR, Kolkata, Andhra Pradesh, Tamilnadu, Karnataka, Gujarat & Punjab.

By June 2010, this facility would be available in all branches across the country.

Mr. Hariprasad, Head - Treasury, FCH CentrumDirect Ltd. said, “The Company will now be able to offer  Foreign Currency Demand Drafts across the counter to students planning  for overseas education, employment, immigration, medical treatment, participation fees, film shoot etc. to resident Indians and corporates apart from a host of outward remittance facilities which are currently being provided.”

He further added, “It has been a constant endeavor of FCH CentrumDirect to work towards providing convenience and value-added services to its large base of customers. This initiative reiterates it’s commitment towards student community and foreign travelers and we are confident that the customers would benefit immensely with this additional service”

About FCH CentrumDirect Ltd. (FCH CDL)
FCH CentrumDirect Ltd. is one of the leading Authorized Dealer-II by Reserve Bank of India. Specialists in Foreign Exchange, FCH CentrumDirect Ltd. also assists students who seek overseas education in addition to having inbound remittances with Western Union money transfer. In a strategic alliance with the Future Group to offer money transfer, money change and travel & tourism facilities, Forex and Travel boutiques will be opened in Big Bazaar, Pantaloons etc.

About Centrum
Incorporated in 1977 Centrum Group has been offering integrated financial services to PSUs, State & Central Government, Corporates, and individuals across the country. The client’s specific requirements remain paramount at Centrum and over the last decade, Centrum Group has established itself as a leading, complete financial services player in the country, and through its tailor-made and customised solution centric approach has demonstrated its intent of being a dominant player.

Centrum has a strategic partnership with Future Group, which will propel Centrum’s ambitious expansion plans in key businesses i.e. Investment Banking, Infrastructure and Real Estate Advisory, Institutional Broking, Forex & its allied services and Retail Wealth Management.

The other group companies of Centrum are Centrum Broking Private Limited and FCH Centrum Wealth Managers Limited, with Pan - India reach of over 50 branches and international presence in the Middle East, Europe and the USA.