Now when you think of BPOs think commodities, India is ready to emerge as an Offshore BPO service provider for commodity financial services, in the form of back-office processes to foreign banks. It is now flooded with calls to manage offshore demat commodity accounts and warehouse receipts sitting right here.
Overseas banks from countries like Ivory Coast, Zambia, Nigeria, South Africa, Russia and Bulgaria are queuing up for Offshore BPO services that include efficient management of accounts and commodity balances. This makes for an excellent business opportunity for apex service providers like National Securities Depository and Central Depository Services of India.
“Discussions are now on with several interested parties. The potential of BPO in commodity financial services is simply huge,” said PH Ravikumar of NCDEX.
NCDEX has already worked successfully to network 50 accredited warehouses and enabled holding of commodity balances in electronic form and dematerialized the warehouse receipt in partnership with NSDL.
Priyanka.S
