Emirates NBD, a leading bank in the region, said yesterday that as a part of its NRI services offering, it has launched a special online remittance facility for its Indian clients, in association with HDFC Bank, headquartered in Mumbai.
Indian nationals living overseas can avail this facility to remit funds directly into their HDFC Bank accounts through Emirates NBD's online service. The special remittance service offers the added advantage of processing all transactions with the same day value, and the funds credited into the beneficiary's account with HDFC Bank, provided the transactions have been requested before noon on working days common to the UAE and India (Monday to Thursday). For transactions requested in the afternoon, the funds will be credited by the next working day.
"Indians not only constitute one of the largest demographic client bases for Emirates NBD, but are also the expatriate community with the largest volume of overseas remittances to their home country," said Jamal bin Ghalaita, Group Deputy CEO, Emirates NBD. "Despite the financial crisis, overseas remittances to India from migrant workers touched $55 billion [Dh202bn] in 2009, making the country the world's top remittance earner."
By Staff Writer
© Emirates Business 24/7 2010
