IndusInd Bank and Bajaj Markets collaborate to simplify outward remittances
IndusInd Bank, an Indian private sector bank, has forged a strategic partnership with digital financial marketplace Bajaj Markets to enhance its remittance services.
As part of this collaboration, Bajaj Markets now offers access to the IndusInd Bank Outward Remittances service, allowing individuals to conveniently send money abroad.
The partnership aims to leverage the Liberalised Remittance Scheme (LRS) facility, which enables individuals to make international money transfers in 16 major currencies. These currencies include Arab Emirates Dirham (AED), Australian Dollar (AUD), Canadian Dollar (CAD), Danish Krone (DKK), Euro (EUR), Great Britain Pound (GBP), Hong Kong Dollar (HKD), Japanese Yen (JPY), New Zealand Dollar (NZD), Norwegian Krone (NOK), Saudi Riyal (SAR), Singapore Dollar (SGD), South African Rand (ZAR), Swedish Krone (SEK), Swiss Franc (CHF), and United States Dollar (USD).
The scheme allows transfers of up to $250,000 in a financial year.
IndusInd Bank collaborates with Bajaj Markets to simplify outward remittances. Photo courtesy of Superfast1111/Wikimedia Commons.
By partnering with Bajaj Markets, individuals can easily access the IndusInd Bank Outward Remittances service. The process is said to be secure, efficient, and designed to facilitate hassle-free international money transfers.
Importantly, the fully-digital process eliminates the need for customers to physically visit a bank branch, streamlining the remittance experience.
This collaboration between IndusInd Bank and Bajaj Markets aims to offer customers a seamless and convenient solution for outward remittances. With the integration of technology and financial expertise, the partnership seeks to provide users with a robust and user-friendly platform to transfer funds overseas.