SBI Nepal opens rupee exchange counters at airport

State Bank of India’s subsidiary in Nepal, which resumed operations the very same day earthquake hit the nation, has opened exchange counters at the Kathmandu airport to help Indians convert local currency into rupee. "After getting approval, we started exchange counters at Tribhuvan International Airport, Kathmandu last week to help Indians convert domestic currency into Indian rupee," said SBI Nepal Chief Operating Officer V K Tyagi.

Stranded Indians are using benefits of these counters and getting their funds exchanged, he added. SBI holds 55 per cent shares in the subsidiary and the rest is held by a local partner, namely Employee Provident Fund (15 per cent) and general public (30 per cent). Besides, the bank has also opened Earthquake Victims Donation Collection (PM Disaster Relief Fund) account for collecting financial assistance or donation for the relief of victims of earthquake in Nepal. 

"We are in full preparedness for handling where remittance can be immediately credited where we have account with us," Tyagi said. SBI Nepal was the first bank to resume operations on the morning of April 26, the day a powerful earthquake hit the Himalayan nation, by making its 42 branches or extension counters and 53 ATMs functional, he said.