Andhra Bank, UAE exchange tie-up
By Our Banking Bureau | 08 Dec 2001
Hyderabad: Andhra Bank has entered into a rupee-drawing arrangement with the UAE Exchange Centre of LLC, Abu Dhabi, for facilitating private remittances to India. In a press communique, the bank said people in the Gulf could remit substantial amounts regularly to the credit of accounts of their family members and also to the credit of their accounts in India.
NRIs in the Gulf, the release added, can now obtain drafts on Andhra Bank in Indian rupees from the UAE Exchange Centre. These rupee drafts will be paid at par by Andhra Bank's designated branches in India.
The family members of NRIs would get immediate credit to their account on presentation of the draft. The facility will be available in 69 branches of the bank in Andhra Pradesh and in 12 branches in states across the country.
.jpg "RBI keeps repo rate unchanged as focus remains on inflation")
.jpg "Indian Oil, Panasonic team up for lithium-ion cell production in India")
