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Thiruvananthapuram, Aug. 29

The State Bank of Travancore has launched a new speed remittance product for Gulf customers. Styled ‘Moneytrans E-Remit’, the product, which was developed in-house, will enable almost instant transfer of remittances from exchange houses in the Gulf countries to the account of the beneficiary with SBT or any other bank branch in India, says a release from the bank. The bank is extending the product to all the exchange houses in West Asia, with which it has drawi ng arrangements. The product was launched simultaneously in Dubai by the bank’s Managing Director, Mr M. Ramaswamy, and in Thiruvananthapuram by the General Manager (Technology), Ms Vimala B. Madon, on the day of the opening of the bank’s Representative Office in Dubai on August 27. –

Our Bureau

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