BCL FINANCIAL SERVICES LIMITED, A NON BANKING FINANCIAL SERVICES COMPANY HAVING FOCUS ON COMMERCIAL VEHICLE LENDING WITH AN ALL INDIA BRANCH NETWORK AND HAVING INVESTMENT GRADE RATING HAS ALSO DRAWN UP PLANS FOR FORAY INTO FEE BASED SERVICES. THE COMPANY IS NOW LOOKING FOR A TIE UP WITH A FOREIGN BANK ENGAGED IN SUPPLIERS BILL DISCOUNTING ABROAD.
THE TARGET SECTION CONSISTS OF SMALL AND MEDIUM INDIAN IMPORTERS OF CAPITAL GOODS FROM EUROPEAN AND FAR EAST COUNTRIES.
THESE IMPORTERS NORMALLY FOLLOW THE PROCEDURE OF OPENING LETTERS OF CREDIT FAVOURING THE SUPPLIERS, THE L/C BEING OPENED ON AN INDIAN BANK.
WHAT WE ARE EVENTUALLY LOOKING AT IS A TIE UP WITH A NOMINAL EQUITY PARTICIPATION WITH AN EUROPEAN OR FAR EAST BANK WITH MONTHLY RETAINERSHIP FEES PAYABLE TO US IN POUND STERLING OR US DOLLARS. IN RETURN WE WOULD IDENTIFY IMPORTERS FOR CAPITAL GOODS IN INDIA WHOSE FOREIGN SUPPLIERS WOULD BE PAID ON THE STRENGTH OF THE INVOICES BACKED BY A LETTER OF CREDIT FROM THE INDIAN IMPORTER'S BANKER. THE RATES SHOULD BE COMPETITIVE AND MARGINALLY OVER LIBOR AND FOR A MINIMUM PERIOD OF 180 DAYS AND EXTENDABLE TO 365 DAYS.
THE INDIAN IMPORTERS WOULD THEN GET THE BENEFIT OF REDUCED INTEREST COSTS OVER THEIR INDIAN BANKERS FOR A PERIOD OF 180 TO 365 DAYS.
IN ADDITION TO THE ABOVE, WE WOULD ASSIST THE FOREIGN BANK TO ESTABLISH A CORRESPONDENT BANKING RELATIONSHIP WITH OTHER BANKS IN INDIA AS WELL AS PROVIDE INFORMATION ON COMPANIES AND GROUPS SELECTED BY THE FOREIGN BANK.
WE COULD ALSO USE THE RESOURCES OF SUCH BANK IN ORGANISING FOREIGN CURRENCY LOANS FOR CUSTOMERS IN INDIA WHETHER BY WAY OF EQUITY OR LOAN.
A DETAILED GROUP PROFILE CAN BE MADE AVAILABLE ON SPECIFIC REQUEST.
INTERESTED BANKS ARE REQUESTED TO SEND THEIR PRELIMINARY ENQUIRIES TO ANY OF THE FOLLOWING PERSONS :-
MR. AMITAVA SENGUPTA (VICE PRESIDENT)
BCL FINANCIAL SERVICES LIMITED
1/1, CAMAC STREET
CALCUTTA - 700016. (W.B.) INDIA.
PHONE NO. 91-033-29-9359/1476 DIRECT. 91-033-29-3521
FAX NO. 91-033-225-5865
E-mail : khazana@giascl01.vsnl.net.in
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