This product envisages the remittances up to Rs.50,000/- for payment in cash to the beneficiaries through all our branches. The product is well received by Exchange Houses for cross border remittances.
Under the Scheme the NRI remitter can remit to his relatives a sum of Rs.50,000/- through Exchange House branches situated in Gulf and other countries which can be paid instantly by way of cash at our branches to the beneficiary.
An identification PIN number will be given to the remitter and the beneficiary has to approach our branch along with that PIN and his Identity Proof to collect the cash. Beneficiary need not have to maintain the account with our bank. We have also tied up with Moneygram International, who is a global leader in money transfer industry.