Car loan lender Central Bank of India has introduced with a new service called CentFast2India. The service has been introduced to promote e-transfer of remittances from USA.
Chairman and MD of Central Bank, S Sridhar said, “This facility offers a hassle-free funds transfer by remitters in the United States to beneficiaries in India through Internet banking. It gives freedom to the remitter in the United States to remit money at his convenience from any bank account anywhere in the US to any account in India”.
Initially the highest sum that can be transferred is limited to $5000.
Sridhar said that the bank’s plan of action in this year would concentrate more on retail banking.
He added, “Our focus was on the corporate sector last fiscal. This year we will focus on retail. We expect to increase our retail growth to 25 per cent in FY’11 from 20 per cent last fiscal”.
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