03 July 2013
Muscat: UAE Exchange India, a non-banking financial company approved by Reserve Bank of India (RBI) and third largest Authorised Dealer Category II in terms of branch network, in India, has applied to the RBI for banking licence in the country. UAE Exchange has a network of 328 direct branches and 44,000 agent locations present in 20 states in India.
Dr B. R. Shetty, MD & CEO, UAE Exchange, said, "We have been present in India since 1999 and we also have strong presence in all other countries, from where Indian expatriates send money to their families in India. We think it is a great opportunity to now service the Indian clients besides the Indian expatriate community. Our rich infrastructure, technological prowess and wide reach across India, are our strengths. We are certain that if given the licence, we would be able to start our banking operations effectively within the stipulated time of 18 months."
He further added, "UAE Exchange is trusted among the Indian diaspora and their families for remittance, foreign exchange, bill payments, loan against jewellery, travel services etc. The strong network of our branches spread out across India, reaches even small towns and the rural space, from where the bread earning members have migrated in search of better prospects."
The company serves a customer base of over 21 lakhs, employs 3,400 professionals and is the third largest Authorised Dealer Category II, in terms of branch network in India. The India operations of UAE Exchange is a part of the global network of the leading global remittance and foreign exchange brand, which has operations spread across 31 countries with more than 700 branches.
Muscat: UAE Exchange India, a non-banking financial company approved by Reserve Bank of India (RBI) and third largest Authorised Dealer Category II in terms of branch network, in India, has applied to the RBI for banking licence in the country. UAE Exchange has a network of 328 direct branches and 44,000 agent locations present in 20 states in India.
Dr B. R. Shetty, MD & CEO, UAE Exchange, said, "We have been present in India since 1999 and we also have strong presence in all other countries, from where Indian expatriates send money to their families in India. We think it is a great opportunity to now service the Indian clients besides the Indian expatriate community. Our rich infrastructure, technological prowess and wide reach across India, are our strengths. We are certain that if given the licence, we would be able to start our banking operations effectively within the stipulated time of 18 months."
He further added, "UAE Exchange is trusted among the Indian diaspora and their families for remittance, foreign exchange, bill payments, loan against jewellery, travel services etc. The strong network of our branches spread out across India, reaches even small towns and the rural space, from where the bread earning members have migrated in search of better prospects."
The company serves a customer base of over 21 lakhs, employs 3,400 professionals and is the third largest Authorised Dealer Category II, in terms of branch network in India. The India operations of UAE Exchange is a part of the global network of the leading global remittance and foreign exchange brand, which has operations spread across 31 countries with more than 700 branches.
© Times of Oman 2013
