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Standard Chartered Bank launches FEMA Centre of Excellence

11 December 2024, India – Standard Chartered Bank, India, announced the launch of its “FEMA (Foreign Exchange Management Act) Centre of Excellence” proposition to help clients navigate and comply with the dynamic regulatory environment and enhance efficiencies.

In addition to the FEMA Centre of Excellence, the Bank also introduced a self-service capability to optimise the Cross-border payments journey for its clients where a document repository for initiating outward remittances abroad from India is available on Straight2Bank (S2B), which is Standard Chartered’s fully integrated internet banking Digital platform.

The FEMA team combines deep industry knowledge with a breadth of situational experience to work seamlessly with clients to address their queries and guide them through any emerging complexities. This desk currently has team members based out of the metros namely Mumbai, Delhi, Bengaluru and Chennai.

Speaking on the launch, Zuzar Tinwalla, Cluster Chief Technology & Operations Officer, India and South Asia, Standard Chartered Bank, said, “Capital Account transactions requires strict adherence to regulations. With the launch of the FEMA Centre of Excellence and Digital FEMA document repository, we are looking to assist our clients in navigating the dynamic regulatory environment. This is a perfect example of the Bank harnessing the best of talent and technology for clients, enabling them to move quickly with enhanced efficiencies.”

Standard Chartered has also launched various educative capital account handbooks and guides, as well as a “FEMA Insights” newsletter, to keep clients informed about recent FEMA amendments and circulars along with its interpretations and impact analysis.

For further information please contact:

Rahul Virkar
Head – External Communications, India
Standard Chartered Bank
Email: rahul.virkar@sc.com
Mobile: +91 9820440482

 

 

Rajiv Banerjee
Head – Communications, India and South Asia
Standard Chartered Bank
Email: rajiv.banerjee@sc.com 
Mobile: +91 9920454102

About Standard Chartered

Standard Chartered Bank has been operating in India with a continuous presence of over 165 years making it one of the oldest foreign banks in the country. The Bank has a network of 100 branches across 42 cities. Key business segments include Corporate and Investment Banking and Wealth and Retail Banking. For more information, visit https://www.sc.com/in/

Globally, we are a leading international banking group, with a presence in 52 of the world’s most dynamic markets. Our purpose is to drive commerce and prosperity through our unique diversity, and our heritage and values are expressed in our brand promise, here for good.

Standard Chartered PLC is listed on the London and Hong Kong stock exchanges.

For more stories and expert opinions please visit Insights at sc.com. Follow Standard Chartered on X, LinkedIn, Instagram and Facebook.