Prithvi Exchange upgraded to 'AD Category II'
Chennai | Saturday, Nov 21 2009 IST
 

The City-based Prithvi Exchange, a division of Prithvi Softech Limited, has been upgraded as the Authorised Dealer (AD) Category II Licence by the Reserve Bank of India (RBI).

A company release here said the RBI has upgraded the status after evaluating the level of compliance of rules and regulations laid down by various regulatory authorities.

Prithivi was one of the first Full Fledged Money Changers (FFMC) to obtain this licence in South India.

With the upgradation to AD Category-II, the company would offer increasing range of foreign exchange services including purchase, encashments of foreign currencies and traveller cheques.

The company would also release foreign currencies, traveller cheques, foreign currency prepaid cards and issue foreign currency drafts and telegraphic transfers for private and business visits, medical treament, film shooting, overseas education, among others. Company Managing Director Ashok Kumar Kavad said the company at prsent have 16 branches in India, including seven in Chennai, three each in Bangalore, Hyderabad and Goa, and would be open new branches in Madurai, Trichy, Coimbatore, Vijayawada, Kochi and Thiruvananthapuram, besides setting up an office in Colombo.

-- (UNI) -- 21MC4.xml

 

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