Syndicate Bank-UAE Exchange Tie-up to Boost NRI Remittances
Syndicate Bank has signed an agreement with the UAE Exchange Centre in Dubai to facilitate remittances
to India by NRIs and Indian firms from the Gulf countries.
Syndicate Bank will offer its remittance products like Syndicate-e-remit,
Syndicate-e-draft and Syndicate MT at customer-friendly rates through the
UAE Exchange network.
NRIs would gain from the convenience of using the
RTGS, or real time gross settlement system.
The UAE Exchange has a strong
network of 250 offices across the globe and accounts for an annual remittance
of USD 3 billion. Through the arrangement, Syndicate would be able to
offer speedy remittance services.
The Exchange was established in 1980,
and has constantly upgraded its services by adopting advanced technological
practices, keeping ahead of competition.
The Exchange offers a range
of remittance products – drafts, cheques, swift and express transfers, money transfers through Western Union and Travelex and Inter-Emirates, purchase and sale of cheques in retail and wholesale.
