BOI inks agreement with KVB on foreign remittance

Chennai, Nov 14 (UNI) Bank of India and Karur Vysya Bank have entered into an agreement for a strategic alliance in effecting foreign remittances from Singapore.

Through this agreement Non Resident Indians(NRI) in Singapore can effect remittances by demand drafts drawn on the identified branches of KVB from Singapore branch of BOI, a KVB release said here today.

Both the banks were also exploring the possibilities of collaborative efforts in 'Buyers Credit' and 'Letter of Credit', among others, the release added.

UNI