The Chennai based bank, Indian Overseas Bank (IOB), is planning to introduce an instant remittance service from United Arab Emirates, shortly. This announcement was made by the Chairman and Managing Director of IOB, Mr. M. Narendra at a customer meet held in Dubai.
The service will aid non-residents Indians to remit their funds instantly to beneficiary accounts in India.
Reportedly, the Dubai meeting took place to build a forum for customers, supporters, investors and businessmen to directly interact with IOB's top level management. To contact the Dubai arm of the bank, customers should use the number 00-971-43969320. A senior bank officer will be available to customers at all times at this number.
The public sector bank has planned major overseas expansion across the Middle East. It has manned bank officials at Saudi Arabia, Oman, Doha and Kuwait. In addition to these countries, the bank plans to send officers in countries like Kenya and Bahrain also.
The bank has is awaiting RBI's approval for upgrading its Dubai office into a full fledged bank branch.