The Live Nagpur
  • Nagpur City
  • Nagpur Education
  • Nagpur Sports
  • Business
  • Featured
  • Crime
  • Entertainment & Lifestyle
  • Health & Wellness
  • Nation
  • Politics
  • Trending
  • Vidarbha
  • Obituary

The Live Nagpur

  • Home
  • City
  • Politics
  • Business
  • Education
  • Entertainment
  • Sports
  • Health
  • Crime
  • Forest
  • Featured
  • Vidarbha
Nation

HDFC Bank, Lulu Exchange partner to boost cross-border payments between India and Middle East

by TLN Team February 24, 2023February 24, 2023
written by TLN Team February 24, 2023February 24, 2023
HDFC Bank, Lulu Exchange partner to boost cross-border payments between India and Middle East

India’s largest private sector bank – 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, 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.”

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 expats 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.”

Both HDFC Bank and LuLu Exchange will leverage each other’s goodwill, trust, regulatory tech, and vast service network to extend this partnership through a series of online and offline initiatives.

0 comment
FacebookTwitterLinkedin
TLN Team

previous post
Brutal crime, sexual exploitation, causes and the society
next post
‘Protekt’ car seat beat innovator Cadet Tasneem Dudhewala interviewed by Nagpur 94.3 MY FM

You may also like

Studies show Over 24 million people use websites...

December 9, 2023

Airbus Helicopters, Indamer come together for helicopter maintenance...

December 8, 2023

RBI increases UPI transaction limit for education and...

December 8, 2023

Change in train route due to non interlocking...

December 8, 2023

Get Ayushman Bharat Gold Card for free treatment:...

December 7, 2023

ISB Executive Education and Emeritus partner to launch...

December 7, 2023

Feb 1 budget doesn’t have any spectacular announcements...

December 7, 2023

Madhya Pradesh awarded with The Best Sustainable Wildlife...

December 7, 2023

Beware!! Centre warns of ‘Ghar Baithe Job’ scams

December 6, 2023

FIIs: NET BUY OF MORE THAN RS 17K...

December 6, 2023

Leave a Comment Cancel Reply

Save my name, email, and website in this browser for the next time I comment.

Trending News

  • TV Star Norman Lear no more

    December 6, 2023
  • Trains coming from south canceled due to the cyclone

    December 5, 2023
  • Election Results 2023: MP, Rajasthan,Telangana & Chhattisgarh

    December 3, 2023
  • Establish India as knowledge hub for the world: Droupadi Murmu

    December 2, 2023
  • Russian Supreme Court bans LGBT movement

    December 1, 2023

Important Links

  • Politics
  • Crime
  • Business
  • Education
  • Entertainment
  • Sports

Available on Playstore & Coming Soon on Appstore

Sign-Up Form

Subscribe my Newsletter for new blog posts, tips & new photos. Let's stay updated!

Footer Logo
  • Nagpur City
  • Nagpur Education
  • Nagpur Sports
  • Business
  • Featured
  • Crime
  • Entertainment & Lifestyle
  • Health & Wellness
  • Nation
  • Politics
  • Trending
  • Vidarbha
  • Obituary
  • Privacy Policy
  • Cookie Policy
  • Terms Of Use
  • Advertise with Us

© 2020 - The Live Nagpur . All Rights Reserved.