Dhanlaxmi, Bank of New York tie-up for online remittance

Private sector Dhanalakshmi Bank has partnered with Bank of New York to facilitate online remittance services from the US to India.

The new Internet-based customer remittance service will enable all, and not just Dhanalakshmi Bank customers, to transfer funds online from the US to India, the company said in a statement.

Riding on NEFT/RTGS, the platform that can credit funds to a bank account of a beneficiary anywhere in India, the bank said, "it would enhance the convenience of the customers by providing a 24x7 secure and easy way to remit funds to India."

Dhanalakshmi Bank's Head-NRI Business, Rajesh Rajah, said that "the facility capitalises on the bank's physical presence and technology advancement for the benefit of our customers. We will be introducing many such innovative products and services in future, offered directly by the bank or through third party tie-ups like this."

The NRI banking segment will be one of the focus areas of the bank, the statement added.