Notice to Customers: INR Demand Drafts (“INR DD”) Purchased from SBI Canada Bank (or the “Bank”)
November 19, 2019
Notice to Customers
INR Demand Drafts ("INR DD") Purchased from SBI Canada Bank (or the "Bank")
Applicable to: Customers who purchased INR DD from SBI Canada Bank branches before 2013 and have not cashed it.
The Bank has discontinued issuance of Demand Drafts (DD) in Indian Rupees (INR) in the year 2013. The Bank is in process of closing our INR DD account with our correspondent bank. The process is expected to complete by June 2020.
Customers who purchased INR DD from SBI Canada Bank but have not cashed it as on the day of this notice and are willing to cash their INR DD at any SBI Canada Bank branch are requested to bring the original DD to any SBI Canada Bank Branch along with proof of purchase and a valid government issued photo ID. After verification, the INR DD will be converted back to CAD at the prevalent INR buying rate on the date of transaction and will be paid as an official cheque or will be credited to the account for those customers who hold an account with SBI Canada Bank.
No cash will be paid in any circumstances.
End date: This service will be available to customers until June 30, 2020.