BFC Forex and Financial Services PVT LTD (BFC Forex), renowned for its expertise in foreign exchange and outward remittance solutions throughout India, has inaugurated its 32nd branch in Vishakhapatnam, Andhra Pradesh. Operating under the ownership of BFC Group Holdings W.L.L, headquartered in the Kingdom of Bahrain, and licensed by the Reserve Bank of India (RBI), BFC Forex possesses AD II license and specializes in facilitating Outward Remittances aligned with RBI’s stipulated guidelines.
Visakhapatnam is the largest and most populous cosmopolitan city in Andhra Pradesh. The new branch is situated in Dwaraka Nagar, which is the centre of the city and a commercial area. It is easily accessible to nationalised banks, hotels and many institutions. This branch aims to serve as a pivotal resource for NRIs residing and working across the globe, while also extending assistance to students pursuing higher education abroad, particularly in the area of university fee payments.
During the inauguration of the new branch, Mr. Amitava Saha, General Manager and Country Head of BFC Forex, expressed, “I am deeply honoured to inaugurate our new branch today, representing the collective efforts of our dedicated employees. This opening stands as a testament to BFC Forex’s unwavering dedication to Vishakhapatnam, underscoring our expansion to encompass two branches within the Andhra Pradesh region. Our longstanding intention to extend our footprint in this area has materialized, and we firmly believe that the strategic placement is exceptionally fitting.”
Mr. Kaustav Khan, Head of Operations & Wholesale, conveyed, “Our venture into Vishakhapatnam fills us with enthusiasm, and we eagerly anticipate extending our specialized services to customers. These encompass a comprehensive array of offerings, ranging from outbound and inbound remittance to foreign exchange, travel solutions, and wholesale business services tailored for local enterprises and individuals. Our extensive selection will encompass over 30 key currencies, all available with zero percent commission and offered at competitive rates, catering to both businesses and individual customers alike.”
At present, BFC Forex boasts a network of 32 branches spread throughout India and holds the esteemed authorization of being classified as an Authorised Dealer Category -II, conferred by the RBI. Serving as a sub-agent for prominent names such as Western Union, MoneyGram, Transfast, and Ria Money, our capabilities extend to receiving funds from more than 200 countries and territories. This wide-reaching service is facilitated through a network of over 400,000 agent locations distributed globally.
