Alpha Bank provides correspondent banking services to its repondent banks.

03:30 Aug 6, 2007 

Bank that regularly buys check processing and other services from a Correspondent bank. Also known as a downstream bank. Purchased services can include securities clearing and trading, check processing, and foreign exchange trading. A respondent bank, which usually is a community bank, may also maintain its Reserve Account in a Pass-Through Account at a correspondent, or sell participations in loans exceeding its legal lending limit, or buy participations in loans originated by other banks.

In light of all this technical information, I think I just might use the English names as transliterations since these seem to be technical terms, unless someone knows of actual Urdu counterparts used in trade. Any suggestions?

03:25 Aug 6, 2007 

Since there is some disagreement in the answers I decided to do some research. These are the answers I got from answers.com for Correspondent banks:

The name given to a bank, broker, dealer, or financial institution that acts on behalf of another financial institution with limited or restricted access to the financial markets where a transaction must occur.

Investopedia Says:
Commonly done by smaller financial corporations that don't necessarily have the capital to enter into foreign markets and set up new operations. This is a cheaper method of providing international services to clients through agreements and partnerships.


1. bank that holds deposits for other banks and performs services, such as check clearing. The deposit balance is a form of payment for services. Many community banks clear checks drawn on out-of-town banks through Reserve Accounts at a larger bank. Correspondent banks also buy participations in loans exceeding the Legal Lending Limit of a smaller bank, called the Respondent and give these banks access to financial markets, such as the foreign exchange market or financial futures market, that are ordinarily beyond the reach of smaller financial institutions.

2. Mortgage banker or broker who services mortgage loans for a fee, collecting principal and interest payments plus real estate taxes.

10:19 Aug 5, 2007 

I'm sorry...it is "respondent". Thank you for pointing it out.

06:42 Aug 5, 2007 

Excuse me , Is this word 'repondent' or 'respondent' in the sentence posted by you above?