Axis Bank ties up with Ahli United Bank for remittance

Axis bank, the 3^rd largest private sector lender tied up with Bahrain’s Ahli United Bank for inward remittances.

What does this tie up would bring in for customers of Ahli United Bank?

• Any person having an a/c with Bahrain’s Ahli United Bank can transfer money to a bank account holder in India using the Internet banking platform.
• If the recipient account holder is an Axis customer, the amount will be credited the same day but if the account is in any other bank branch covered under the NEFT network, it can take up to two days.
• Customers can initiate transactions of up to BHD 5,000 (Rs 732,000 roughly) a day.

Month: Current Affairs - May, 2012