Online edition of India's National Newspaper
Friday, Jan 19, 2007
ePaper
Google



Business

News: ePaper | Front Page | National | Tamil Nadu | Andhra Pradesh | Karnataka | Kerala | New Delhi | Other States | International | Opinion | Business | Sport | Miscellaneous | Engagements |
Advts:
Classifieds | Jobs | Obituary |



Business Printer Friendly Page   Send this Article to a Friend

ICICI Bank launches remittance card

Staff Reporter

Money can be drawn at ATMs

Advertisement
Bharat Matrimony

KOCHI: ICICI Bank has launched a product to facilitate card-based remittance from abroad. The card will provide a convenient and hassle-free way to receive remittance, says Manish Misra, Head, Global Remittance, ICICI Bank.

At a press conference here on Tuesday, he said "Money2India" remittance card could be used by the beneficiary in India to withdraw money at any Visa-affiliated ATM.

The money remitted abroad could be withdrawn in the quickest possible time in India. The facility could be utilised by beneficiaries who did not have accounts with ICICI Bank in India. The withdrawal limit using the card was Rs. 50,000 a day.

India was the largest remittance receiving country in the world with inflows of $ 24 billion annually. ICICI Bank had over 25 per cent market share in the Indian remittance segment.

Mr. Misra said the largest remittances came to India from the U.S. and the Gulf countries. The world remittance market was estimated at $ 230 billion.

The initial charge for the card was Rs. 400, but the remittance service was done free of charge.

There was no limit for the remittance through the bank, he said in reply to a question. G. Santhoshkumar, regional head, Retail Liabilities Group, ICICI Bank Ltd., Kochi, and Rahul Virkar, Manager, Corporate Commu- nications Group, were present.

Printer friendly page  
Send this article to Friends by E-Mail



Business

News: ePaper | Front Page | National | Tamil Nadu | Andhra Pradesh | Karnataka | Kerala | New Delhi | Other States | International | Opinion | Business | Sport | Miscellaneous | Engagements |
Advts:
Classifieds | Jobs | Obituary | Updates: Breaking News |


News Update


The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | Publications | eBooks | Images | Home |

Copyright 2007, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu