Emirates NBD, a UAE-based financial services firm, in association with an India-based HDFC Bank, has expanded its NRI services offering with the launch of a special online remittance facility for Indian clients.
Indian nationals residing overseas can avail this facility to remit funds directly into their HDFC Bank accounts through Emirates NBD’s online banking service.
The special remittance service offers the added advantage of processing all transactions with the same day value, and the funds credited into the beneficiary’s account with HDFC Bank, provided the transactions have been requested before 12 noon. For transactions requested post noon, the funds will be credited by the next working day, at the same value.
Jamal Bin Ghalaita, group deputy CEO at Emirates NBD, said: “Despite the global financial crisis, overseas remittances to India from migrant workers touched $55bn in 2009, making the country the world’s top remittance earner. A significant percentage of this amount originates from the GCC states, where nearly 90% of Indian migrant workers are based.
“This special online remittance facility will enable direct online remittances into the HDFC Bank accounts of our Indian clients. It is yet another initiative from Emirates NBD to support the overseas Indian community and offer them custom-built solutions to address their banking requirements in a hassle-free environment.”