SIB launches Eazy Remit to help NRIs to send remittances

Services launched in collaboration with Bank of New York

PTI | June 24, 2010



Private lender South Indian Bank today said it has launched a web-based product, SIB Eazy Remit, that will help Non-Resident Indians in the US to send remittances to India from their homes or offices.

SIB has launched this online facility in collaboration with Bank of New York Mellon, New York, an official release said here.

"SIB Eazy Remit is an extremely secure way of transferring funds and will help the NRIs in the US to remit funds to India in a convenient and cost-effective way," Bank's Managing Director V A Joseph said.

He said that despite the global financial crisis, overseas remittances to India touched USD 55 Billion in 2009 making the country the world's top remittance earner.

The Maximum amount for transfer is USD 5,000 and aggregate amount per month is USD 10,000, he said.


 

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