ICICI Bank has announced that it has tied up with SWIFT to offer a facility that helps overseas partner banks to send instant remittances on behalf of their customers to the beneficiary in India. The beneficiary gets the credit to the bank account instantly. This makes ICICI Bank the first bank in Asia-Pacific and the second globally to offer the facility, called ‘SWIFT gpi Instant’, for cross border inward payments. With this new service, we continue to live up to our commitment to offering customer-centric solutions enabling quick and hassle-free money transfers.”
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
Key benefits of ‘SWIFT gpi Instant’:
Personal remittances of up to 2 lakh sent through ‘SWIFT gpi Instant’ are processed instantly and credited into the beneficiary account held with any bank* in India, via the IMPS network. (bank to be enabled to receive foreign remittance through IMPS)
The service is available 24X7.
The details about the charges levied by intermediary banks are updated on the ‘SWIFT gpi’ platform; it gives the sender complete clarity on charges.
Important takeaways for all competitive exams:
Silk, often hailed as the queen of textiles, holds a significant place in India's cultural…
World Tuna Day, observed annually on May 2nd, is dedicated to raising awareness about the…
The Ministry of Corporate Affairs (MCA) has granted its approval for the appointment of Hitesh…
India, renowned for its rich tapestry of natural landscapes and cultural heritage, is home to…
Paul Auster, the renowned American novelist and filmmaker, has passed away at the age of…
Renowned playback singer Uma Ramanan, who predominantly sang in Tamil, passed away at the age…