INDIAN BANK Singapore has launched the ‘SPEED REMIT’ to India. The Service aims at faster way to send Rupee Remittances to India from Singapore and for effecting direct credit to Customers’ Accounts maintained with over 500 Branches under “CBS”(Core Banking Solution) Network in India. The scheme was launched on 10.06.2006 at Singapore.

Switching over from the Traditional Paper Based ‘Mail Transfer’ system of Remittance, Indian Bank Singapore will be using the state-of-the art technology of electronic channel to send remittances to India. This will considerably reduce the transit time and will increase customer satisfaction. Customers are encouraged to avail ‘Internet Banking- View’ facility made available thru ‘India NET Bank’ (Pl visit www.indian-bank.com) in respect of their accounts maintained with CBS branches in India. This will enable the customers to view the status of remittances made to their accounts including those thru ‘Speed Remit’ on-line. The list of CBS Branches are available in the website

Benefits to customers: The money sent thru Indian Bank Singapore to CBS Branches in India will be credited electronically the fastest way. The Twin facility of ‘Speed Remit’ combined with ‘Internet Banking- view’ will assure speed, safety and comfort for the remitters. The product is aimed at fulfilling the long standing requirement of remitters from Singapore for faster account credit in India.