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Bangalore, Aug. 27

Syndicate Bank has announced it has signed a Memorandum of Understanding with the Abudhabi-based UAE Exchange Centre for extending remittance facility to the non-resident Indians in the region. Mr. C P Swarnkar, Chairman & Managing Director, Syndicate Bank, who signed the agreement here on Monday, said the alliance with UAE Exchange Centre extend enable the bank to offer its “Speed Remittance” products such as Syndicat-e-remit, Syndicat-e-draft and Syndicate MT at very competitive prices.

Dr. Bavaguthu Raghuaram Shetty, Managing Director and Chief Executive Officer of UAE Exchange Co, was also present.

Mr Swarnkar also announced that Syndicate Bank was working on a new suite of remittance products powered by Real Time Gross Settlement. –

Our Bureau

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