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Mangalore, Aug. 21 Karnataka Bank Ltd has launched ‘Quikremit’, a Web-based inward remittance facility for NRIs residing in Canada, the UK and the US.

Quoting Mr P. Jayarama Bhat, Chief General Manager of the bank, a press release said here on Thursday that this product facilitates the quickest and cheapest mode of remittance.

For this purpose, the bank has tied up with Citibank. This product can be used to remit money to anyone in India.

The remittance gets credited to the beneficiary’s account within 48 hours of the transaction beginning. The remitter abroad can avail of this facility without visiting his bank and can do so by debit to his account or using credit/debit cards.

The entire transaction is completed online by just a few clicks of the mouse, it said. The bank hopes to tap new clients for business with this product.

More Stories on : Private Banks | NRIs | Strategy

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