Mustafa Sultan Exchange launches fast remittance facility
Mustafa Sultan Exchange launched the new electronic remittance service 'SBI NEFT', developed by the State Bank of India, enabling credit to customers' accounts within four to 24 hours.
The facility currently covers more than 70,000 branches of over 115 banks in India through NEFT platform. The service is now available at all 13 branches of the company spread across the Sultanate of Oman.
'SBI NEFT' is one of the best remittance packages that enable processing remittances with minimal manual intervention to ensure greater accuracy and speed. The confirmation of credit through SMS to both beneficiary as well as the remitter is the unique value addition of the service being offered by Mustafa Sultan Exchange.
The SMS confirmation is provided free of cost.
The remitting customer needs to furnish the following information for effecting NEFT remittance:
Within hours amount to be remitted, name of the beneficiary bank and branch, name of the beneficiary customer, core banking account number of beneficiary customer, and the IFSC code of the receiving branch, if available with the customer Akber Mustafa Sultan, managing director of Mustafa Sultan Enterprises, inaugurated formally launched the 'SBI NEFT', in the presence of Shabbir Mustafa Sultan, director; Minoo Saher, Group CEO and Sudhir Naik, Group CFO.
Dr V. S. Kumar, general manager of Mustafa Sultan Exchange and Baldev Prakash, AGM of Ruwi branch were also present on the occasion. Akber expressed satisfaction over launch of the new service to the customers, which is managed by State Bank of India and is one of the oldest exchange companies in the Sultanate.
The company recently completed 22 years of service to the customers. He further said that 'SBI NEFT' service will meet the expectations of customers who are maintaining accounts with various banks in India.
The company services also include India corridor, credit to SBI accounts through SBI Express within hours with a confirmatory SMS to the beneficiary in India and remitter in Oman; credit to State Bank of Travancore accounts within hours with an SMS confirmation to the remitter; credit to the accounts of all banks in India within 24 hours through SBI NEFT.
Speaking on the occasion, Dr Kumar called on the customers to avail best exchange rates and experience the efficiency, by visiting any of its branches in Oman.Published on Tuesday 2nd of November 2010 09:46:03 PM Oman Time