ICICI Bank launches 'Fixed Rupee' facility on Money2India.com
ICICI Bank Limited ("ICICI Bank"), India's largest private sector bank has announced the launch of 'Fixed Rupee' - a convenient facility that enables Non-Resident Indians ("NRIs") to send the exact Rupee amount remittance to India since the exchange rate is confirmed at the time of initiating the remittance.
- (1888PressRelease) November 24, 2010 - Mumbai - Now get freedom from exchange rate movements with online transfer tracking.
This is a significant value addition over the traditional money transfer mechanisms where the rates are not available at the time of initiating the remittance.
The 'Fixed Rupee' facility is available on Money2India.com - ICICI Bank's online money transfer tracking service.
An ICICI Bank spokesperson said, "We at ICICI Bank have always believed in offering customer-centric solutions and we are delighted to present Fixed Rupee facility on Money2India.com. This facility, will, as of now, be available from key geographies like US, UK, Singapore, Australia, Hong Kong, Canada, France and Germany. With this offering, Money2India.com offers yet another innovative solution, since the customer would now know the exact exchange rate applicable on the proposed remittance at the time of sending the money."
Money2India.com is a popular service offered by ICICI Bank which is used by NRIs. With an ever-expanding base since its launch in 2001, it is the preferred online tracking service for money transfers to India with round the clock customer service availability. To use this service, a user needs to complete a simple one-time online registration at Money2India.com and can avail the tracking service for money transfers from any bank in 15 countries to any account with over 100 banks in India.
About ICICI Bank Limited: ICICI Bank Limited (NYSE:IBN) is India's largest private sector bank and the second largest bank in the country, with consolidated total assets of over $115 billion at September 30, 2010. ICICI Bank's subsidiaries include India's leading private sector insurance companies and among its largest securities brokerage firms, mutual funds and private equity firms. ICICI Bank's presence currently spans across 19 countries.
Except for the historical information contained herein, statements in this release, which contain words or phrases such as 'will', 'would', etc., and similar expressions or variations of such expressions may constitute 'forward-looking statements'. These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to our ability to obtain statutory and regulatory approvals and to successfully implement our strategy, future levels of non-performing loans, our growth and expansion in business, the adequacy of our allowance for credit losses, technological implementation and changes, the actual growth in demand for banking products and services, investment income, cash flow projections, our exposure to market risks as well as other risks detailed in the reports filed by us with the United States Securities and Exchange Commission. ICICI Bank undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date thereof.
For Press Queries:
Charudatta Deshpande
Head, Corporate Communications
ICICI Bank Limited
Bandra Kurla Complex,
Mumbai - 400051
India
E-mail: charudatta.deshpande ( @ ) icicibank dot com
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