Private sector lender, Kotak Mahindra Bank plans to increase its hold in the online remittance facility and has thus upgraded its online remittance portal for the Non Resident Indians (NRIs).

The upgraded facility has been coined 'Click2Remit'. Using this facility, the NRI customers of the bank can remit money in nine currencies inlcuding the US Dollar, British Pound and Swiss Franc to more than 65,000 branches of over 100 Indian banks across India.

"Click2Remit has been designed to be the most convenient and cost effective way for NRIs to remit money back home...we foresee a steady rise in remittances in the coming years, backed by an improving global economic scenario," KMB's Executive Vice-President, Virat Diwanji said.

Till a certain benchmark, NRIs can avail fund transfer facility for free, said a company spokesperson.