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Catholic Syrian Bank has unveiled three products for the non-resident Indians (NRIs). Sharing details of the products launched in Dubai last week, CSB Managing Director, Mr V. P. Iswardas, said that the NRI investments had not seen much improvement in recent months. To lure investments, the bank introduced CSB Insta Remit, which aims to provide instant fund transfer; CSB NRE Plus – to help NRIs earn higher return on their deposits by effective use of forward cover; and CSB Support Line, a personal banking, helpline product.
CSB has tied up with 17 exchange companies in the Middle East to provide the instant fund transfer. ‘Funds would be transferred electronically. Once the credit is given to the account of the beneficiary, the bank would send an SMS to the recipient,' he said.
On NRE Plus, he said the product would help the non-residents earn higher rate of interest on their deposits by utilising the forward cover mechanism effectively.
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