Public sector lender, Andhra Bank has entered into an agreement with UAE Exchange Centre of Kuwait in order to bring up a special scheme which would facilitate speedy remittances to its customers.

The service would allow NRI customers to remit money from any of the UAE Exchange Centres located in Kuwait. This money would be credited to the accounts of Andhra Bank customers across all 1,560 branches of the bank in India. The amount would be credited the next day after being remitted.

An SMS alert would be generated to the beneficiaries in India confirming that the amount has been credited to their account, the bank said.

The scheme was launched in a meet of the high net worth (HNI) clients of the bank in Kuwait.

The bank added that a similar scheme is active with the UAE Exchange Centre of Abu Dhabi which remits Rs 17 crore per month.