27 C
Guwahati
Sunday, July 21, 2024

HDFC Bank partners with Lulu Exchange to boost cross-border payments

- Advertisement -
- Advertisement -

HT Bureau
GUWAHATI, Feb 22: HDFC Bank, and UAE-based financial services company Lulu Exchange, have signed an agreement to strengthen cross-border payments between India and Gulf Cooperation Council (GCC) region. In its first phase, the partnership will draw on Lulu Exchange’s expertise and regulatory framework to launch a digital inward remittance service titled ‘RemitNow2India’ that will allow resident individuals of UAE to send money to any bank account in India via IMPS and NEFT through HDFC Bank’s digital banking channels. The partnership will also look to strengthen the existing relationship between the two entities in India, where LuLu Financial Group operates LuLu Forex and the NBFC division LuLu Finserv.

Speaking on the partnership, Arvind Vohra, group head – Retail Branch Banking, at HDFC Bank said, “Our partnership builds on each other’s strengths. While HDFC Bank potentially gains access to remittances from Lulu Exchange’s employees, customers, and other stakeholders, Lulu Exchange can capitalise on a trusted name with a vast network. As a bank, we can help the people in UAE particularly the Indian diaspora to send money conveniently and in a seamless manner into the country.”

- Advertisement -

Adeeb Ahamed, MD, LuLu Financial Group, commented, “We are delighted to partner with HDFC Bank and enable our remittance-as-a-service platform on their digital banking solutions. The UAE-India payments corridor is one of the largest in the world, and this partnership will build upon existing capabilities to ease money transfer for thousands of Indian ex-pats living in the UAE while setting the foundation for the eventual integration of this service in other parts of GCC where we have a presence.”

- Advertisement -
The Hills Times
The Hills Timeshttps://thehillstimes.in/
Welcome to The Hills Times, your trusted source for daily news and updates in English from the heart of Assam, India. Since our establishment in 2000, we've been dedicated to providing timely and accurate information to our readers in Diphu and Guwahati. As the first English newspaper in the then undemarcated Karbi Anglong district, we've forged a strong connection with diverse communities and age groups, earning a reputation for being a reliable source of news and insights. In addition to our print edition, we keep pace with the digital age through our website, https://thehillstimes.in, where we diligently update our readers with the latest happenings day by day. Whether it's local events, regional developments, or global news, The Hills Times strives to keep you informed with dedication and integrity. Join us in staying ahead of the curve and exploring the world through our lens.
Latest news
- Advertisement -
Related news
- Advertisement -
7 Beautiful Indian Birds Flowers Which Bloom Only At Night Top 10 Most Dangerous Animals in India Foods That Increase Uric Acid Levels 9 Exotic Summer Vacation Destinations In India