Kotak Bank offering instant remittance via Aadhaar

Must Read

Sanju Samson to replace Shikhar Dhawan in T20 series against WI

Sanju Samson will replace injured Indian opener Shikhar Dhawan in the T20s series against West Indies starting from next...

Supreme Court lashes out on Centre & Delhi govts for Rising Pollution

The Apex Court of the Country, the Supreme Court on Monday lashed the Central and State Government for their...

Harbhajan Singh wishes BCCI Prez Sourav Ganguly to change Selection Panel

The Indian off-spinner Harbhajan Singh on Monday urged Sourav Ganguly, President of BCCI (The Board of Control for Cricket...

Kotak Mahindra Bank has partnered with a fin-tech, Avenues India which offers payment gateway solutions. After this partnership, the bank will be able to provide instant forex remittance solution based on Aadhaar.

The remittance program will enable customers and non-customers to send money overseas online by logging into a dedicated portal. The transaction will be completed instantly and Aadhaar-based authentication will eliminate the need for another leg in the transaction.

With this partnership, Kotak Bank is targeting the outward remittance market which comprises the various heads.  The heads include education, maintenance of close relatives, purchase of property, investment in overseas equity and in medical treatment. They are allowing customers to send up to ₹16 lakh and non-customers up to ₹7 lakh.

The bank is allowing customers to send up to ₹16 lakh and non-customers up to ₹7 lakh. The customers can initiate the process within their net banking services while non-customers can access the portal from the bank’s pre-log in the web page.

 

- Advertisement -

Latest News

Food aggregator unicorn Zomato will reach profitability by 2020, says co-founder Deepinder Goyal

Deepinder Goyal, co-founder and CEO at Zomato, a food aggregator and tech-food unicorn, has announced that the platform will...

Mutual funds investment marketplace Nivesh raises $600,000 from The Next Billion Fund, other marquee investors

Nivesh.com, mutual funds investment marketplace, has bagged $600,000 (approx INR 4 crore) from Windrose Capital's The Next Billion Fund, other marquee investors, reported Yourstory. The...

Delhi Fire Tragedy: Owner of the building arrested

Rehan, the owner of the building where a fire broke out in Delhi earlier today, has been arrested by Delhi Police. A case has...

Amit Shah to table Citizenship bill in Lok Sabha tomorrow

Union Home Minister Amit Shah will table the Citizenship (Amendment) Bill in the Lok Sabha on Monday. The bill seeks to grant Indian citizenship...

Delhi fire tragedy: How it all started

More than 140 illegal factories were operational in the narrow lane of Anaj Mandi of Karta Gauri Shankar. The fire started from the 600sq...
- Advertisement -

More Articles Like This