Financial Daily from THE HINDU group of publications
Monday, Jun 20, 2005
Financial Daily from THE HINDU group of publications Monday, Jun 20, 2005 |
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Money & Banking
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Private Banks SIB signs pact with Bahrain Financing Our Bureau
Kochi , June 19 THE South Indian Bank Ltd has tied up with with Bahrain Financing Company.As per the arrangement, rupee drafts could be drawn on 150 designated South Indian Bank branches from the Bahrain-based exchange house. This is in addition to the earlier arrangements for draft drawing concluded with four international banks and 17 exchange houses. As this facility ensures safe and speedy transfer of funds, it would be convenient for South Indian Bank's NRI customers and their family members, a press release from the bank has said. The bank has also concluded a speed remittance facility with the exchange house and is branded as `SIB Express' wherein remittances from abroad would be credited to beneficiaries of South Indian Bank's on-line branches, almost instantaneously.
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