Kochi: NRIs, especially from the Gulf countries will now be able to avail the facility of online remittance to Ernakulam. This was made possible by the Syndicate Bank, which has opened a NRI cell in association with a few exchange companies.

Ernakulam region, which comprises of districts of Ernakulam, Thrissur, Palakkad, Kozhikode, Malappuram and Idukki and the Union Territory of Lakshadweep, has a big NRI population working in Gulf area and this step will help them send money to their relatives and loved ones without much hassles.

Syndicate Bank will offer instant remittance to the bank account at a relatively low rates as compared to other exchange services. Region of Syndicate Bank has opened an NRI cell for non-resident Indian customers. This was stated by G. Ramanathan, Deputy General Manager at a press conference.

Syndicate bank has been a trendsetter when it comes to implementing latest technology and providing innovative schemes to its customers. The Hubli region Syndicate Bank, disbursed Rs. 350 crore as agricultural loans and Rs. 600 crore as advances thus occupying the first position in India in loan disbursal. Recently an online loan application facility, first of its kind, was launched by the Syndicate Bank.

Two new schemes Synd Sona and Synd JaiKisan were also launched by the bank recently. While Synd Sona offers gold coins of guaranteed purity and quality in different denominations to the public, Synd JaiKisan is an investment credit scheme for farmers and agriculturists. Syndicate Bank is also planning to expand in the region and open four branches under at Aluva, Muvattupuzha, Kottakkal and Chittoor (Palakkad).