UAE Exchange ties up with SBH for online inward money transfer

Hyderabad, Apr 8 (UNI) UAE Exchange and public sector State Bank of Hyderabad (SBH), with about 1000 branches, today signed a landmark agreement for instant online Foreign Inward Money Transfer Service through the Bank's select locations in India.

Initially 100 branches of the SBH will be extending the facility which will later be extended to more branches, a senior SBH official said.

UAE Exchange provides Money Transfer, Money Exchange and Travel and Ticketing services globally in a fully automated environment.

The company which commenced operations in India in September 1999 has over 200 automated branches and around 2000 sub agent locations including public and private sector banks, new generation banks and other major Financial Institutions. Plans are underway to expand the branch network with additional 100 locations in 2006, the the company spokesman said here.

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