A private sector bank, Federal Bank Limited tie-up with MoneyGram Payment System to offer a cost-effective direct-to-bank account credit option for customers in India. This tie-up will help the non-resident Indians with access to modern, low cost, fast, easy and reliable ways for transferring money to India.
This partnership will help the people to send and receive money to their families in the COVID-19 pandemic situation. Federal Bank has a 15% share of the country’s remittance market and expects that the tie-up with MoneyGram will give the business a further boost.
Important takeaways for all competitive exams:
- Federal Bank Limited Chairperson: Grace Elizabeth Koshie.
- Federal Bank Limited MD & CEO: Shyam Srinivasan.
- Federal Bank Limited Headquarters: Aluva, Kerala.
- MoneyGram Chairman & CEO: Alex Holmes.
- MoneyGram founded: 1988.