Private sector lender, IndusInd Bank has announced that it has been given the mandate by Haj committee of India to carry on all Haj travel related currency business. As per the mandate, the bank has received rights to distribute Saudi Riyal currency notes to all Haj pilgrims who have been sponsored by the government.

The bank said that it is for the second time that it has bid for the mandate.

According to estimates, around 115,000 pilgrims would be going for Haj under government sponsorship from India. Apart from that 50,000 more pilgrims are to go to Saudi Arabia from India under priavte quota.

The bank said that it has emerged as a prime player in remittances to the middle east nations.