Lakshmi Vilas Bank (LVB) today announced that it has entered into an agreement with TimesofMoney, a Times Group Company to launch ‘LVB INDIA REMIT’ a remittance facility to India from 22 countries across the globe in 9 currencies.
This is an online remittance facility where non resident Indians living abroad can register on LVB’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.
Speaking on the occasion PR Somasundaram MD & CEO, Lakshmi Vilas Bank said, “This is yet another step forward for us as we increase our reach in foreign remittances from 22 countries in 9 currencies. NRIs staying in these countries can now send money home at a click of a button through our web portal. 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/Non Life Insurance premium and farm investments.
