Indian Bank

Indian Bank's Colombo branch offers a full suite of branded financial products. It serves individuals and legal entities in Sri Lanka. The bank provides retail, corporate, and treasury services. These are anchored by unique rupee-denominated settlement facilities (SRVA/RDA).

Retail Banking Services

The bank offers NRE Savings Accounts. These allow repatriable principal and interest. Free quarterly statements are available via IndOASYS online portal. NRO Savings Accounts accept local rupee credits only. Repatriation is subject to RBI limits. This account links to a Rupee Drawing Arrangement (RDA) facility.

FCNR(B) Term Deposits are foreign currency fixed deposits. They support USD, GBP, EUR, AUD, JPY, CHF, SGD. Interest compounds quarterly. Tenors range from 1 to 5 years. Speed Remit provides instant credit from Singapore operations. Each remittance includes a SWIFT gpi tracking number.

The IB-VISA Platinum Credit Card features a contactless EMV chip. It meets a minimum external authentication limit (EAL4+ certification). IndOASYS Internet Banking uses two-factor authentication (TFA). This is via Smart OTP. It employs 256-bit SSL encryption. The Indian Bank Mobile App supports biometric login like fingerprint and FaceID. It sends real-time push notifications for all debit/credit transactions. Safe Deposit Lockers offer dual-control access. They include temperature and humidity monitoring.

Corporate and Institutional Banking

The Special Rupee Vostro Account (SRVA) is an INR-denominated nostro. It facilitates direct trade settlements. The account is held at the Colombo branch. Transaction reporting uses SWIFT MT 940. The Rupee Drawing Arrangement (RDA) handles outward payments. These are up to USD 250,000 per shipment under LCA guidelines. It uses SWIFT MT 101 direct debit instructions.

Letter of Credit (IB-TradeLOC) confirmation uses SWIFT MT 760/700. It allows collateral substitution via a BG replacement clause. Bank Guarantee (IB-TradeBG) embeds an auto-extension clause. Security reconciliation occurs via MT 760 confirmation. Project Finance Term Loans offer syndication facilities up to USD 50 million. They have floating LIBOR/SLIBOR-linked interest resets every 3 months. The Forex Dubai Window is an FCY Forex Desk. It offers spot and forward contracts. Messaging uses SWIFT MT 300. Daily marked-to-market valuation reports are provided. Corporate Internet Banking (IB-CIB) provides consolidated MIS for collections. It supports bulk upload of payment instructions via API. Cash Management Solution (IB-CMS) features automated sweeps. These move funds between rupee and FCY pools. File uploads use secure SFTP.

Treasury and Investment Services

Dynamic Fixed Deposits offer auto-sweep functionality. This moves funds between current and term deposits. It uses tiered interest rates based on thresholds. Wealth Management Advisory (IB-WMA) uses a portfolio rebalancing algorithm. This includes risk profiling. It integrates with the Bloomberg market feed. Structured FX Products include customized forward-start FX swaps. Pricing uses Black-Scholes volatility inputs. Treasury Bills Placement allows direct bidding for Ceylon Govt. Treasury Bills. This is done via the SIATEC platform.