DBS and SBI offer new remittance service to India
By Yasmine Yahya, Channel NewsAsia | Posted: 25 November 2009 1256 hrs

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SINGAPORE: DBS Bank has partnered with the State Bank of India (SBI) to offer an online remittance service from Singapore to India.

Through the service, DBS and POSB customers will be able to transfer funds to beneficiary accounts in India quickly and conveniently.

DBS said India is one of the key recipients of home remittance from Singapore.

The bank currently offers direct remittance service from DBS and POSB accounts in Singapore to accounts at just 10 DBS branches in India.

But with the new service, customers can now send money to accounts at over 16,000 SBI branches as well as to 30,000 other branches in India.

- CNA/sc