Jan 25 2012 |
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Axis Bank In Pact With Samba Financial Group
Wednesday, Jan 25, 2012
MUMBAI (Dow Jones)--India's Axis Bank Ltd. (532215.BY) said Wednesday it has tied up with Saudi Arabia's Samba Financial Group (1090.SA) to offer remittance services from the Middle Eastern country to India.
Under the pact, Samba Financial will facilitate the remittance of money to India via Axis Bank accounts or through about 78,000 branches of more than 100 other banks in India with National Electronic Funds Transfer-enabled facilities.
Samba Financial Group has an asset base of about $50 billion and a network of about 65 branches and 35 remittance centers spread across Saudi Arabia, Axis Bank said in a statement.
(END) Dow Jones Newswires
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