HDFC Bank ACE Banker Training Quiz

HDFC Bank Presentation Notes

• HDFC Bank Account Numbers and Dates: Various account numbers (e.g., 100021095400) are mentioned, along with dates (e.g., Oct 16, 2024) throughout the presentation.
• ACE Banker Training: The presentation appears to be part of training for ACE Bankers.
• Retail Forex and FCY Transaction Handling: Topics covered include handling retail forex and foreign currency (FCY) transactions.
• Objectives of the Session:
• Overview of retail forex transactions
• Understanding outward and inward remittances
• Familiarization with LRS documentation
• Understanding FX card features and benefits
• Basic Retail Forex Concepts:
• Buying rate: The rate at which the bank buys foreign currency from customers.
• Selling rate: The rate at which the bank sells foreign currency to customers.
• The "Buy" and "Sell" rates are always from the bank's perspective.
• Buying and Selling Rates Examples:
• Buying Example: A customer wants to deposit EURO 500 into their account. The bank will apply its buying rate for the EURO.
• Selling Example: A customer wants to purchase USD 1000 for travel abroad. The bank will apply its selling rate for the USD.
• Buying Rate Applies:
• NRI deposits
• Inward remittances
• Business needs (e.g., export bill collection)
• Selling Rate Applies:
• Customer requirements: FCY cash, loading forex card
• Customer needs: outward remittances, fees for students
• Business needs: import bill payment
• Foreign Exchange Rate - Key Concepts:
• Interbank Rate (IBR)
• Card Rate
• Exchange Margin
• Foreign Exchange Rate Betterment: Calculations provided to illustrate how the effective rate is calculated
• Card rate + 20 ps = Effective Rate (Buy)
• Card rate - 20 ps = Effective Rate (Sell)
• Who Can Deal in Foreign Exchange?:
• Authorized Dealers (Banks)
• Buy & sell foreign exchange
• Handle remittances
• Have deposit accounts
• Examples: Bank of India, etc.
• Full-Fledged Money Changers (FFMC):
• Buy & sell foreign exchange
• Examples: FRR Forex, Akbar Travels
• Restricted Authorized Dealers (Authorized Dealers II):
• Buy & sell foreign exchange
• Handle remittances
• Examples: Thomas Cook, Cox & Kings
• FX Franchisees:
• Buy foreign exchange
• Examples: 4 or 5-star hotel enhancing foreign currencies at their counter
• Liberalised Remittance Scheme (LRS):
• Details about permissible transactions under LRS
• LRS - Capital Account Transactions: Permitted transactions for individuals under LRS
• Opening and maintaining foreign currency accounts overseas
• Buying property abroad
• Setting up joint ventures
• Investment in debt or equity securities in global markets
• Loans including loans in Indian Rupees (INR) to NRI relatives
• LRS - Current Account Transactions: Permitted transactions for individuals under LRS
• Personal travel/Business travel
• Gift donation
• Medical treatment abroad
• Emigration
• Tuition fees for studies abroad
• Family maintenance abroad
• Employment abroad
• Other current account transactions
• FCY Cash Sale: Maximum USD 30,000 or equivalent can be tendered by customers.
• Currency notes purchase more than USD 5000 would require a Currency Declaration form (CDF).
• Banks will retain a copy of the CDF.
• Inward Remittances: The processes on how accounts receive overseas money from other banks via SWIFT.
• Outward Remittances: Details about permitted limits for remittances by individuals
• Normal remittance
• Liberalized Remittance Scheme (LRS)
• Remittance Restrictions: The presentation describes the categories of allowed or prohibited countries under OFAC and FATF stipulations.
• DealPro Application: Overview of the DealPro application
• Features: FX rate sourcing, inward remittances, processing inward remittances, Retail FX transactions, forex card transactions, INR-INR transactions.
• DealPro Application - Advantages: The presentation highlights the advantages of using the DealPro application
• In-built FX card rates
• Online access to treasury
• STP accounting of customer leg; online customer details fetch from banking, including signature
• Tracking of FCY and DD transactions
• Various checks to avoid errors/omissions
• Maker-checker for all transactions
• DealPro Retail FX Module: A presentation listing the various transaction types covered within.
• How to View Various Status in DealPro: Descriptions for status indicator colors of transaction inputs
• Branch input/Branch Authorization/Treasury Pending/CPUT Pending/CPUT Rejected/Branch Rejected/Cancelled/Transaction Complete/Transaction Terminated
• Account transaction details
• DealPro Application Accessing/Logging-in: This section details the steps for acquiring/using the DealPro application
• Getting DealPro login details
• Login access for branch users.
• Additional Topics:
• How to add new stock in the branch
• How to authorize/reject stock in DealPro
• How to transfer stock from a branch vault to a teller
• How to transfer stock from one branch to another
• Various rate types available for Retail FX transactions in DealPro.

Test your knowledge on the HDFC Bank ACE Banker training, focusing on retail forex transactions and foreign currency handling. This quiz will cover key concepts like buying and selling rates, remittances, and FX card features. Enhance your understanding of banking operations with specific examples.