DBS facilitates Singapore remittance to Indian banks

A partnership with State Bank of India will allow DBS customers to remit online from Singapore to 46,000 bank branches in India. Known as 'DBS2SBI Remittance', the service will tap 16,000 State Bank of India branches, as well as to 30,000 other branches in India.

"We are constantly exploring opportunities to offer greater convenience to our customers. India is one of the key recipients of home remittance from Singapore. We currently offer direct remittance service from DBS/POSB accounts in Singapore to accounts with 10 DBS branches across India," said DBS head of consumer banking Rajan Raju.

"SBI is a household name in India, and it is only natural and makes perfect sense for us to partner with a bank which resonates similarly in Singapore," said Mr Seah Boon Ching, Head of Consumer Banking, SBI Singapore.