HDFC launches online services for NRIs

New Delhi, June 21 (UNI) HDFC Bank today launched its online remittances service, Quickremit, to enable NRIs in the US, the UK and Singapore for sending money to India directly to the accounts of their family members on the same day.

The NRIs can use Quickremit to send money from any bank account in these countries by logging on to www.hdfcbank.com.

The remittances can be credited to the accounts of the beneficiaries held with any of the 20,800 branches of the 90 banks in India, which participate in Reserve Bank of India's RTGS service.

RTGS is RBI's Real-Time-Gross-Settlement Service.

A remittance once received by HDFC Bank and processed through RTGS would be credited to the beneficiary's account using RTGS on the same day or latest by the next working day.

''Through Quickremit, the bank's NRI customers will be able to credit funds directly to the beneficiary's bank account even in other banks, as desired by the remitter,'' HDFC Bank Senior Vice President- Retail Banking Shyamal Saxena said.

By introducing this service, HDFC Bank is looking at facilitating faster access to remitted funds to the beneficiaries in India by cutting down the time lost in couriering and clearing of Demand Drafts, he added.

NRIs sending the funds will also be able to track online the status of the remittance sent by them.

HDFC Bank has a network of 535 branches and 1323 ATMs across 228 cities.

In the year ended March 31, 2006, HDFC Bank reported a 30.8 per cent jump in its net profit to Rs 870.8 crore, a company statement said here.

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