BFC Forex and Financial Services PVT LTD (BFC Forex), India’s emerging financial exchange, inaugurated its 27th state-of-the-art branch at Indore, one of the key localities of Madhya Pradesh at the hands of Mr. Kaustav Khan, Head – Operations and Wholesale, India . BFC Forex is owned by BFC Group Holdings W.L.L, based in the Kingdom of Bahrain. It is AD II licensed and specializes in Outward Remittance as per the guidelines of the Reserve Bank of India (RBI).
The new branch in Indore will cater to the largest and most populous city in the Indian state of Madhya Pradesh. The branch is conveniently located on the ground floor of the Silver Arch Plaza Milestone building in New Palasia, Indore. It is strategically located to cater the major commercial and industrial centre who are mostly engaged in textiles, tile, cement, chemicals, tents, furniture, and sporting goods, grain milling and metal working. The branch will also help to facilitate family of NRI’s residing and working globally through Inward remittance. The branch will also facilitate university fee payment to students pursuing higher studies abroad.
Commenting on the expansion of its retail network, Mr. Kaustav Khan, Head – Operations and Wholesale, India said, “I’m pleased to announce the opening of our first branch in Madhya Pradesh and our 27th branch across India. Our new branch will provide easy accessibility to both businesses as well as individuals in the region, allowing customers to avail outward and inward remittance, foreign exchange, travel and wholesale business services at this branch. We also offer over 30 major currencies at competitive rates at zero percent commission and are committed to offering international expertise and trusted experience to our customers.”
BFC Forex currently has 27 branches across India and is licensed as an Authorised Dealer Category -II granted by RBI. We are a sub-agent of Western Union, MoneyGram, Transfast and Ria Money with the ability to receive money from over 200 countries and territories with over 400,000 agent locations worldwide. With the license under Money Transfer Service Scheme (MTSS), BFC Forex is able to serve customers by cash payments across its own counters and through a sub-agent network of more than 15,000 locations in India.