South Indian Bank ties up with TimesofMoney for remittances

Tie up to enable all NRIs across 22 countries, to remit funds online to any bank in India under the NEFT/RTGS network

PTI | July 20, 2011



South Indian Bank has tied up with leading e-payments service provider, TimesofMoney, to offer online remittance solutions to NRIs in selected countries.

The tie up would enable all NRIs across 22 countries, to remit funds online to any bank in India under the NEFT/RTGS network, a release said.
The service by the TimesofMoney would ensure all NRIs to get a transaction platform along with better pricing, safety and speedy money transfer, it said.

As per World Bank report 2010, with 11.3 million emigrants India ranks as the top remittance receiver, estimated at USD 55 billion per annum in the world. Remittance through the online channel is increasing at an incredible pace, TimesofMoney President Avijit Nanda has said.
 

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