A leading UAE-based bank has announced a partnership deal with State Bank of India to help NRI customers in the gulf carry out their remittances instantly and more conveniently. Emirates NBD has expanded its partner bank network in India to include State Bank of India (SBI) for the DirectRemit 60 seconds remittance platform. With this partnership, the bank’s Non-Resident Indian (NRI) customers who also bank with SBI can now avail themselves of the fastest remittance service in the UAE more easily.

The tie-up with SBI will help strengthen Emirates NBD’s DirectRemit platform which is set to benefit a large additional customer base in the UAE. The partnership will allow fund transfers to SBI bank accounts across India in 60 seconds at zero fees. Emirates NBD currently has existing tie-ups with HDFC Bank, ICICI Bank  and Axis Bank  in India. Arundhati Bhattacharya, Chairman, SBI said India is one of the biggest and the fastest growing countries for remittances.

Emirates NBD customers can also transfer money to other banks in India with their remittance being processed within an hour. Customers can avail of the 60 seconds money transfer service via online, mobile banking & ATMs. With DirectRemit, customers will be able to transfer funds back home instantly and can also make home loan payments, pay bills, remit insurance premiums or carry out out investments.