NRI Real Estate and Property Investment in India
 |  WWW.NRIREALTYNEWS.COM
IREF- Join Now
 
Express Fund Transfer Facility to NRIs in Oman
Monday, May 14, 2007

The South Indian Bank, one of India’s leading private sector banks, has tied up with a money exchange firm in Muscat to facilitate transfer of funds to India. The bank has a network of 475 branches in India. The SIB Express facility addresses NRI remittances to India to the NRE deposits held by Indians working in Oman.

The express facility expedites remittance of money to India in less than 30 minutes. Holding NRE deposits worth Rs. 3,200 crore, the leading Kerala based bank has garnered 9% of total NRI remittances to India.

The deal was signed with the Oman-UAE Exchange by Chairman and CEO of SIB, Dr. V.A.Joseph, Director, G.A.Shenai, Deputy General Manager K.S.Krishnan, and Assistant GM C.T.Devis.

The South Indian Bank is known for its focus on NRI deposits, and initiated the establishment of an exclusive branch for NRIs in India in 1992. The numbers have grown since, with SIB having more NRI branches than any other bank in India.

The bank is in the process of upgrading its technology through the SIBertech project in collaboration with Infosys Technologies, Wipro and HCL to offer "anywhere banking" facilities to NRIs.

Fully automated, the SIB has an extensive network of core banking branches in India with an investment of Rs. 44 crore. IDRBT, the technology arm of the Reserve Bank of India recently awarded a special award for excellence in banking technology to the bank, specifically for Information Security Policies and Practices.

Add to your Social Bookmarks:
ADD TO DEL.ICIO.US ADD TO DIGG ADD TO FURL ADD TO NEWSVINE ADD TO NETSCAPE ADD TO REDDIT ADD TO STUMBLEUPON
ADD TO TECHNORATI FAVORITES ADD TO SQUIDOO ADD TO WINDOWS LIVE ADD TO YAHOO MYWEB ADD TO ASK ADD TO GOOGLE  

 

 

Return to India

NRI INSURANCE

NRI SERVICES

 

Indian Cities Guide

DELHI   NOIDA   GHAZIABAD
         
GURGAON   MUMBAI   AHMEDABAD
         
KOLKATA   CHENNAI   HYDERABAD
         
BANGALORE   PUNE   CHANDIGARH
         
..More cities »
NRI Communities in Different Countries  
Indian Embassies & Consulates in Different Countries
 
NRI Newsletters  
NRI Feeds - Syndications