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Federal Bank collaborated with UAE’s Mashreq Bank

Published on May 12, 2021
Current Context: TheFederal Bank has entered into a partnership with Mashreq Bank, which is one of the leading financial institutions in the UAE.
Federal Bank collaborated with UAE’s Mashreq Bank
  • They have collaborated to facilitate money transfers from the UAE to India.
  • Under this partnership, both the entities will cooperate to support Mashreq’s faster payment product named QuickRemit, which was launched in 2017.
  • Due to this partnership, the customers of Mashreq Bank will be able to avail substantial savings and they will be able to transfer money to India via Mashreq Bank’s online and mobile banking mechanisms.
  • Static Part:
    • HQ of Federal Bank: Aluva, Kerala
    • Tagline of Federal Bank: Your perfect Banking Partner

Question: 

Q.1 Which bank partnered with UAE’s Mashreq Bank to allow money transfers from the UAE to India?
a. HDFC Bank
b. SBI
c. Federal Bank
d. IDFC First Bank
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