One of the Indian Bank decide tie up with Foreign Bank.
" Thrissur-based South Indian Bank has
announced a tie-up with National Australian Bank (NAB) for online inward remittances from Australia at a competitive rate.
The arrangement enables faster, hassle-free remittances through internet at the best exchange rates, claimed the Bank. NAB will be South Indian Bank's main banking correspondent in Australia.
"As the exchange rate is decided by South Indian Bank, NRI customers in Australia would get the best possible rates. The remitted money can be either converted into Indian Rupee or maintained in Australian Dollar." said K N Reghunathan, executive vice president (Treasury) of South Indian Bank.
South Indian Bank also has tie-ups with banks and exchange houses in the USA, Europe, and Asia." - source Business Standard.