To Help Companies Respond to Forex Volatility
Shinhan Bank India announced on June 5 that it co-hosted a web seminar with Bombay Stock Exchange (BSE) on the subject of foreign exchange risk management.
Shinhan Bank India hosted two web seminars in May for its own customers. The latest web seminar, co-hosted with BSE, was open to general corporate customers.
In the seminar that lasted an hour, an employee of Shinhan Bank India explained the strategies for managing foreign exchange risks for importing and exporting companies. A Q&A session was also held.
The seminar was hosted for businesses that handle foreign exchange transactions amid increased economic uncertainties brought on by many weeks of lockdown and interest rate cuts by India’s central bank.
Shinhan Bank India introduced mobile banking that allows customers to transfer money in real-time for the first time as a Korean bank in India. Along with this achievement, the bank is seeking stable growth by extending loans to corporate and retail customers. The bank also operates Global Trading Center to offer diverse products for foreign exchange risk management and provide customized solutions for customers by providing analyses of the foreign exchange market.
A bank official said, “Seminars on foreign exchange market prospects hosted by public organizations in India used to focus on large foreign investment banks, but we hope the latest web seminar co-hosted with BSE will become a new opportunity to raise our bank’s brand image and enhance customer relationship.” He added, “As the demand for contactless services is high due to the COVID-19 pandemic, we plan to expand our services through contactless channels.”