Singapore-based lender, DBS Bank has entered into a partnership with State Bank of India (SBI) to offer remittance services from Singapore to India. Using the service, known as DBS2SBI remittance, customers can transfer funds to beneficiary accounts at over 16,000 SBI branches, as well as to 30,000 other branches in India, a press release said.
DBS currently offers direct remittance service from its customer accounts in Singapore to accounts with 10 DBS branches across India. To remit funds using DBS2SBI, consumers first need to initiate the remittance via SBI’s online remittance service E-Remit at https://eremit.Sbising.Com, the bank said.
Headquartered in Singapore, DBS has operations in 16 markets and is one of the largest financial services groups in Asia.
