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INDIAN BANK Singapore had launched ‘SPEED REMIT’ to India,in the year 2006,to facilitate speedy Rupee Remittances from Singapore by effecting direct credit to Benficiaries’ Accounts maintained at any of our 1800+ Branches in India- all of which are under “CBS”(Core Banking Solution) Network in India.

To serve our Customers better, we have upgraded our technology to transform “Speed Remit” to “Instant Remit”. The main features are:

· Instant Remit - Remittances (upto INR 10 lacs) credited to Beneficiaries Account with our Branches in India almost instantaneously.

· Speed Remit - High Value INR Remittances above 10 lacs credited to Beneficiaries Account with our Branches in India on the same day / next day.

· Speed Remit–NEFT- Beneficiary Accounts with NEFT enabled Branches of other Banks in India will be credited on next working day/ 2^nd working day (T+ 2 days). List of NEFT enabled branches available at http://www.rbi.org.in/

· Streamlined Remittance Process- pre-validation of Beneficiary Account number/ Beneficiary Account name, and Regulatory Needs like Customer Due Diligence, AML Check and RBI’s requirements- all seamlessly integrated with Bank’s internal Checks to minimize the transaction time to less than 2 minutes per customer.

· The status (success / failure) of the remittance transaction is instantly informed by an SMS to the registered Hand phone number of the Remitter.

· Dawn to Dusk Remittance facility available –

o 9.30 a.m to 4.00 p.m (Monday to Friday) at Raffles Place Branch

· IBeREMIT – the safe, secure and convenient 24X7 online Remittance facility for eNets Users is gaining popularity (Please refer “IBeREMIT” for more details).

IBeREMIT – the safe, secure and convenient 24X7 online Remittance facility for eNets Users is gaining popularity (Please refer “IBeREMIT” for more details).

KIOSK – 24 X 7 Remittance to our banks in India and NEFT Remittance to any Bank in India through KIOSK at our Raffles Place Branch. (Credit within 1-3 working days).