NEW YORK: Leveraging its extensive global reach and network, HSBC has opened a Non-Resident Indian (NRI) representative office in Fremont, California. The objective is to make banking transactions more convenient for the NRI community based in California.

This new location, headquartered in Fremont is a representative office of the Hong Kong and Shanghai Banking Corporation Limited in India (HSBC India).The dedicated NRI office will facilitate personal financial services including remittances between India and USA, servicing HSBC India's NRI customers and serving as a conduit between NRIs and HSBC India to facilitate banking requirements.A new banking solution for NRIs has also been announced by the HSBC Bank USA, N.A. (HSBC USA).

This comprehensive solution allows the NRI community to conduct cross-border banking transactions and to choose from a variety of tailored deposit, mortgage and investment products. In addition to helping NRIs better facilitate their banking transactions in the US and India, the solution also offers the following benefits:

* Assistance in account opening with HSBC India while in the US, and assistance in account opening with HSBC USA, while in India.

* FastCheque - Free remittances to HSBC India from the US, at competitive exchange rates, by USD checks.

* FastClick - Free remittances from the US to India through internet banking, whereby customers banking with both HSBC USA and HSBC India can remit monies to their NRI Accounts held with HSBC India, in a speedy and convenient manner.

* Assistance in identifying a wide array of HSBC USA personal and commercial products. "Today, there are 22 million Non-Resident Indians around the world who expect, and indeed demand, global banking expertise and the highest levels of service," said Manasije Mishra, Head of NRI Services, HSBC India. "Between the US and India, HSBC currently serves more than 160,000 NRI customers and the new joined-up solution with HSBC USA will make this process even more seamless."

"We believe in providing an appropriate and market-leading level of service to all our customers in the US and this new offering will ensure a seamless banking experience for the NRI community," said Brian Gregson, HSBC Senior Vice President, District Executive, California Region. "HSBC recognizes the specific needs of our global customers and this solution is designed to exceed those needs." The HSBC Limited in India offers a full range of banking and financial services to over 2.5 million customers through its 47 branches and 170 ATMs across 26 cities.