SME Times is powered by   
Search News
Just in:   • Equity indices break two-day losing streak on value buying  • IMF urges Sri Lanka to tighten monetary policy  • Global semiconductor sales to reach $676 bn this year: Gartner  • Tinna Rubber hits upper circuit, investors accumulate 900% returns in year  • Availability of jobs in Japan improves for 1st time in 3 yrs 
Last updated: 14 Jan, 2016  

Federal Bank Lunches FCNR Deposit Scheme in New Zealand Dollar

NewsVoir | 14 Jan, 2016
Introducing the facility to receive remittances in New Zealand Dollar currency, Federal Bank has launched FCNR deposit scheme in New Zealand Dollar Currency. The Bank has entered into a tie-up arrangement with ANZ Bank, New Zealand for cross border remittances in New Zealand Dollar, including trade and personal remittances. Shri Antu Joseph, General Manager and Head (Business and Products) said that the product comes as a New Year gift to the Bank’s customers in New Zealand. The scheme is available across all branches of the Bank. Federal Bank, which enjoys 8% market share of personal remittances to India flowing through NR diaspora, has crossed 30,000 crores in NRE Deposits as on 31st December 2015.


About Federal Bank:

Federal Bank is a leading Private Sector Bank with a branch network of 1,252 branches and 1,548 ATMs spread across the country. The Bank’s total business mix (deposits + advances) stands at Rs 1.22  Lakh  Crore as at March 31, 2015 and it has earned a net profit of Rs 1005.75 Crore.  Bank’s Capital to Risk weighted Ratio (CRAR) stood at 15.46% at the end of March 31, 2015.  Federal Bank has its Representative Office at Abu Dhabi that serves as a nerve centre for NRI customers in the UAE. Federal Bank is transforming itself, keeping its principles intact, into an organization that offers services beyond par. It has a well defined vision for the future as a guidepost to its progress.

Print the Page Add to Favorite
Share this on :

Please comment on this story:
Subject :
(Maximum 1500 characters)  Characters left 1500
Your name:

  Customs Exchange Rates
Currency Import Export
US Dollar
UK Pound
Japanese Yen 58.85 56.85
As on 27 Apr, 2022
  Daily Poll
COVID-19 has directly affected your business
 Can't say
  Commented Stories
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter