[nilesh]

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Hi I would like to have information about the remittance service offered by State Bank of India New York Branch and the details of the method to be followed?

[Vishal Kotkar]

State Bank of India, New York branch has briefly suspended issue of Rupee drafts. You may transmit supports by sending a Rupee wire exchange (free of cost) or have a Rupee draft issued from a bank in India."

Vital notice to clients: Remittance ask for (RMT-2I) gotten from people for Indian Rupee Remittances to India, and USD Remittances to SBI Branches in India, through fax/email would not be acknowledged and followed up on w.e.f. 06/01/2014. These settlements can be sent utilizing Online Banking (Internet Banking) or by presenting the RMT-2I shape at the branch face to face and by postal mail as it were.

The most effective method to Apply For a Remittance to State Bank of India, New York

Advantages

All INR settlements are free regardless of the sum. There are no charges exacted by SBI. Different expenses may apply.

Change from USD to INR is at a rate as shown on the site.

Fast Transfer to more than 13,000 branches of State Bank of India.

Settlements can be sent to a record kept up with any bank in India.

Electronic credit office (through NEFT) is made to accounts in all branches of partner banks of SBI and more than 50000 branches of more than hundred different banks in India.

State Bank of India, New York does not demand any charges/expenses/commission for rupee settlements to India independent of the sum. However for settlements to recipient accounts held in banks other than SBI, charges (e.g. National Electronics Funds Transfer {NEFT}, recipient bank charges and so forth.) assuming any, may apply.

The settlement might be postponed –

In the event that your assets are not promptly accessible with us

On the off chance that recipient points of interest given by you are inadequate and mistaken

Because of system disappointments/specialized issues outside the control of the sending/getting branches.

Effective method to apply

Government law requires all banks to recognize their clients. Open a Checking/Money Market Deposit Account with us. Download the record opening structures (DEP 1 or DEP 3, DEP MC, alongside Form 'Enroll Recipient) and the settlement ask for shape (RMT 2I).

The structures have a Step-by-Step Guide that will empower you to finish the procedure easily. For consequent settlements, you should fill just the settlement ask for frame RMT 2I and send it to us via mail, fax (212 521 3363), examined duplicate by email (remit.nyb@statebank.com) or submit it face to face at the branch. In the event that we don't have your beneficiary enlisted with us (through a Form Register Recipient), we might make a phone get back to affirm the legitimacy of the guideline keeping in mind the end goal to ensure your assets and personality.

(Essential Notice: Remittance ask for (RMT-2I) gotten from people for Indian Rupee Remittances to India, and USD Remittances to SBI Branches in India, through fax/email would not be acknowledged and followed up on w.e.f. 06/01/2014. These settlements can be sent utilizing Online Banking (Internet Banking) or by presenting the RMT-2I frame at the branch face to face and by postal mail as it were.)

State Bank of India, New York Branch/Chicago Branch

Remittance Amount Rupees

Less than $ 2500 64.05 INR

$ 2500 to less than $5000 64.10 INR

$ 5000 to less than $25000 64.15 INR

$ 25000 to less than $100000 64.20 INR

$ 100000 and above please call 212 521 3317 for rates

Exchange rate for 5/19/2017 (Updated at 9 am EST)

Contact:

SBI New York
460 Park Avenue,
New York,
NY 10022 (57th Street and Park Avenue)
9 a.m. - 4 p.m. EST Monday through Friday
Remittances remit.nyb@statebank.com
Ph: 212-5213-317/ 286