Andhra Bank has tied up with UAE Exchange Centre WLL, Kuwait, for speed remittance arrangement from Kuwait to all its customers. Under this arrangement, non-resident Indians (NRIs) in Kuwait can remit amounts from any UAE Exchange Centre in Kuwait.
The amount will be credited to the account holders of 1,560 branches on the next day.
The beneficiaries in India will also get SMS alerts for the amount credited in their accounts, wherever mobile numbers are linked to the account.
Andhra Bank has also got a similar arrangement with UAE Exchange Centre LLC, Abu Dhabi, through which remittances worth around Rs 17 crore per month were being routed, the bank said in a press release on Monday.
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