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ICICI Bank introduced the launch of an array of latest services on its on-line outward remittances platform, ‘Money2World’ (M2W), to offer improved comfort to customers, together with those that would not have accounts with the financial institution. One of the brand new companies empowers clients of different banks to finish the KYC (Know Your Customer) course of through video conferencing to register themselves on M2W, an industry-first initiative. Another new facility permits clients, having account with some other financial institution, to remit upto USD 250,000 in a monetary 12 months beneath the Liberalised Remittance Scheme (LRS), 10 instances of their earlier restrict. Users of ‘Money2World’ can remit funds to 21 currencies for a number of functions together with training, upkeep of shut kinfolk, reward and journey.
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