Business Daily from THE HINDU group of publications
Wednesday, Jan 17, 2007
ePaper
Business Daily from THE HINDU group of publications Wednesday, Jan 17, 2007 ePaper |
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Money & Banking
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New Products & Services Industry & Economy - NRIs
Our Bureau
Kochi , Jan. 16 To provide a convenient and hassle-free alternative for receiving remittances, ICICI Bank has formally launched a card-based remittance product in Kerala. The remittance card is an Indian Rupee denominated card. It is re-loadable for funding, it can be used at any VISA affiliated ATM and merchant establishment in India, Mr Manish Misra, Head Global Remittances, ICICI Bank, said at a press meet here on Tuesday. Only remittance-linked credits are permissible in the card and the product would be targeting the families of NRIs, he added.
Facility for all
He said that the facility could also be availed by those beneficiaries who do not have an account with ICICI Bank in India. The card would help in maximising convenience and benefits to both the remitter and beneficiary. The Rs 400 card, with a 10-year validity, can be used at all VISA ATMs in the country with 24-hour access to funds and has a withdrawal limit of Rs 50,000 per day. It can also be used for transactions at over 1,00,000 merchant establishments.
More Stories on : New Products & Services | NRIs | Credit Cards & Debit Cards | Private Banks | ICICI Bank Ltd
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