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Two New Services for the Customers were Launched by SIB

Published on February 24, 2022
Current Context: The South Indian Bank has launched two new services for its customers.
Two New Services for the Customers were Launched by SIB
  • The services were launched to enhance ‘remittances to’ and ‘remittances from´ abroad.
  • The SIB has allowed online outward remittances via Net Banking and inward remittances via NPCI’s UPI mode.
  • It will grant a safe and secure remittance experience to its valuable customers.
  • The bank’s Internet Banking platform named ‘SIBerNet’ will be used to perform online outward remittance facilitates i.e. Foreign Outward Remittance.
  • Indians will be able to perform Online Foreign Outward Remittances through SiberNet in more than 100 currencies across the globe.
  • SIB has launched ‘SIB Express’ for the inward remittance service which will allow cross-border inward remittances under the Rupee Drawing Arrangement.
  • Static Part: 
    • HQ of SIB: Thrissur, Kerala

Question: 

Q.1 In Feb 2022, which bank launched two new services to enable ‘remittances to’ and ‘remittances from´ abroad for its customers?
a. IDBI Bank
b. Karur Vysya Bank
c. South Indian Bank
d. City Union Bank
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