Lakshmi Vilas Bank (LVB) has entered into an agreement with TimesofMoney, a Times group company to launch LVB India Remit, a remittance facility to India from 22 countries in nine currencies.
This is an online remittance facility where non-resident Indians can register on the bank's website by providing elementary details including the senders and receivers’ bank account number, swift code and other financial details.
The remittance will be converted into Indian rupees and credited to the beneficiary’s account in India through the listed bankers of TimesofMoney. The agreement covers various countries in Europe as well as United States of America, Australia, Japan, Singapore, Hong Kong and UAE.
PR Somasundaram, MD & CEO, Lakshmi Vilas Bank, said, “Our aim is to extend the range of services, whereby customers enjoy a distinct advantage in terms of mobility across geographies and the convenience of anywhere, anytime banking. The registration for the entire process is simple and our customers receive email updates at every step of the process.”
Credits can be made to NRO / NRE accounts including a host of other financial transactions which include remittances to school, colleges, hostel as well as payments for life or non-life insurance premium and farm investments.