Targeting a larger share of the remittances market from the NRIs, private sector bank Kotak Mahindra Bank has enhanced its online remittance portal for Non-Resident Indians (NRI).
The service, called ‘Click2Remit’, will allow NRIs to remit in 9 currencies such as the US Dollar, British Pound and Swiss Franc to over 65,000 branches of more than 100 Indian banks throughout India, the bank’s release said.
Virat Diwanji,, KMB’s Executive VP said, “Click2Remit has been designed to be the most convenient and cost effective way for NRIs to remit money back home…we foresee a steady rise in remittances in the coming years, backed by an improving global economic scenario”.
Fund transfer is available for free for NRIs up to a specific limit according to the currency, according to a company spokesperson.