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IndusInd Bank Collaborates with Viamericas to Offer Inward Remittance Services to NRIs in USA

Published on October 31, 2023
Current Context: IndusInd Bank has indeed collaborated with Viamericas Corporation to offer digital inward remittance services to non-resident Indians (NRIs) in the USA.
IndusInd Bank Collaborates with Viamericas to Offer Inward Remittance Services to NRIs in USA
  • This collaboration operates under the Rupee Drawing Arrangement scheme of the RBI, allowing NRIs to efficiently transfer funds to their beneficiaries in India via the reliable Indus Fast Remit platform.
  • The service will offer competitive exchange rates on remittances to India.
  • The Indus Fast Remit platform will allow NRIs to book remittance transactions through auto debit payment mode (Automated clearing House - ACH) as well as transfer funds through the overseas Bank account.
  • Viamericas Corporation will use its existing IndusInd Bank Vostro relationship to credit the beneficiary account in India using the RDA scheme of RBI.
  • IndusInd Bank’s digital remittance platform will provide customers with complete transparency into the status of payment requests, the exact INR amount to be received by the beneficiary and the expected time for delivery of funds.

Question:

Q.1 Who has IndusInd Bank collaborated with to offer digital inward remittance services to NRIs in the USA?
a. Viamericas Corporation
b. Western Union
c. MoneyGram
d. PayPal
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