Centurion Bank of Punjab launches remittance scheme for NRIs in UAE

Centurion bank of Punjab (CBoP) on Tuesday launched a remittance option scheme ‘SmartRemit - Gulf’ for its non- resident Indian (NRI) clients in the UAE.

For easy and fast remittances service, the bank has entered into remittance agreement with exchange houses such as UAE Exchange Centre and Alukkas Exchange, CBoP said in a release.

As per the agreement, NRI clients of the bank would be able to remit funds from any of the branches of these exchange houses which would be transferred to their accounts in CBoP across India within a day, it added.

“Our bank is also in discussion with other exchange houses to extend SmartRemit - Gulf to other countries such as Sultanate of Oman, Bahrain, Kuwait, Qatar and Saudi Arabia,” CBoP Business Director Harpreet Singh said.