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.


 

Comments

 

Other News

AI: Code, Control, Conquer

India today stands at a critical juncture in the area of artificial intelligence. While the country is among the fastest adopters of AI in the world, it remains heavily reliant on technologies developed elsewhere. This paradox, experts warn, cannot persist if India seeks technological sovereignty.

RBI pauses to assess inflation risks, policy transmission

The Reserve Bank of India (RBI) has begun the new fiscal year with a calibrated pause, keeping the repo rate unchanged at 5.25 per cent in its April Monetary Policy Committee (MPC) meeting. The decision, taken unanimously, reflects a shift from aggressive policy action to cautious observation after a signi

New pathways for tourism growth

Traditionally, India’s tourism policy has been based on three main components: the number of visitors, building tourist attractions and providing facilities for tourists. Due to the increase in climate-related issues and environmental destruction that occurred over previous years, policymakers have b

Is the US a superpower anymore?

On April 8, hours after warning that “a whole civilisation will die tonight,” US president Donald Trump, exhibiting his unique style of retreating from high-voltage brinkmanship, announced that he agreed to a two-week ceasefire with Iran. The weekend talks in Islamabad have failed and the futur

Machines communicate, humans connect

There is a moment every event professional knows—the kind that arrives without warning, usually an hour before the curtain rises. Months of meticulous planning are in place. And then comes the call: “We’ll also need a projector. For the slides.”   No email

Why India is entering a ‘stagflation lite’ phase

India’s macroeconomic narrative is quietly shifting—from a rare “Goldilocks” equilibrium of stable growth and contained inflation to a more fragile phase where external shocks are beginning to dominate domestic policy outcomes. The numbers still look reassuring at first glance: GDP


Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter