SBI launches online forex platform

State Bank of India (SBI), the country's largest and the most tech-savvy lender, has launched SBI e-forex, an online platform that enables customers to book their foreign exchange transactions using the internet.

This smart platform will allow the bank's customers to obtain forex rates without having to physically visit the branch, SBI said in a statement.

"The SBI e-forex is an innovative platform incorporating robust security features and is designed to be user-friendly, fast and convenient," it said.

"It is a highly flexible product offering the facility to the customers to customise and set their own limits for deal size, daily transaction limits. Details of all deals done are made available to the users on a real-time basis," it said.

Details of all deals done are made available to the users on a real-time basis, it said.

This is SBI's second forex technology initiative, having launched SBI Fx Out, which enables customers to send foreign currency remittances from any its branches in India.