IDBI Bank today launched multi currency remittance facility for making payments in miscellaneous currencies. With this facility IDBI Bank customers can make remittances in more than 125 currencies across the world.
“The facility offers absolute transparency to the customer in terms of exchange rate of the exotic currency and insulates against subsequent volatility,” said a release from the bank. IDBI Bank customers can use this facility for both trade and non trade payments at all branches in India. Only authorized dealer branches of IDBI Bank will execute the payment.
The bank has 802 branches and 1354 ATMs cross India. The aggregate balance sheet size was of Rs 2,84,729 crore as on December 31, 2010.
IDBI Bank's operations during the nine month ended December 31, 2010 resulted in a net profit of Rs 1,134 crore.