There is good news for the NRI customers of South India Bank as it
has launched a new product for its Non-Resident Indian customers who
maintain higher average balance in their savings accounts. M K Abdullah,
chairman of the Dubai-based EMKE Group that employs more than 20,000
Indians in 25 countries, issued the first Diamond Account passbook to
prominent NRI accountholder Edwin Tharakan in Thrissur yesterday.
According to V.A Joseph, chairman and CEO of the bank, the account offers
multi-city and tech-savvy features adding to customer convenience."
With the carefully thought-out value additions, banking for NRIs, who
maintain an average balance of Rs50, 000, is made extremely easy and
comfortable," he said.
The services include unlimited online fund transfer to any other bank
account in India, unlimited purchase of drafts and payment orders, maintenance
of international ATM-cum-debit card, withdrawal of cash through other
banks' ATMs in India, utility payment and e-commerce services and SMS
facility - all at no cost. The accountholders using 'Any Branch Banking
(ABB)' facilities can withdraw cash and deposit cheques for collection
at any branch of the bank. Customers can also issue ABB cheques which
are payable at par at all branches.
"This product is available from all the 511 branches of the bank,"
The bank had earlier bagged the Banking Technology Excellence Award
from the Reserve Bank of India's Institute for Development and Research
in Banking Technology.