UAE-based lender Emirates NBD has tied up with ICICI Bank, an Indian private sector bank, to enable customers in the UAE to instantly remit money to India through DirectRemit service.
The tie up will allow customers of Emirates NBD to transfer funds to account holders of ICICI Bank in India instantly.
The service will be available through internet banking, mobile banking and ATMs of Emirates NBD and the customers will required to go through a registration process to add the ICICI Bank beneficiary.
Emirates NBD general manager of retail banking and wealth management Suvo Sarkar said: "We are delighted to tie up with ICICI Bank, which has the largest branch network among private sector banks in India with over 3,800 branches in the country, thereby expanding access to the DirectRemit service."
ICICI Bank president Vijay Chandok added: "DirectRemit facilitates the convenience of sending money to any beneficiary in India within a minute. We are pleased to tie up with Emirates NBD and are confident that it will help us deliver best-in-class service propositions to NRIs across UAE."