Central Bank of India has launched online remittance facility for non-resident Indians in the US, in association with Bank of New York Mellon, New York, said a press release.
Called Centfast2india, the facility offers transfer of funds by remitters in USA to beneficiaries in India through Internet banking.
The beneficiary receives the credit within three working days by way of direct credit to their account with Central Bank of India on CBS platform, or through NEFT if the account is maintained with other banks.
Central Bank of India levies a nominal charge and a competitive exchange rate ruling on the day of credit to the beneficiary's account is applied, the release said. To start with, the maximum amount per remittance has been fixed at $5000.
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