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Real Time Payment From The UAE To India via RippleNet

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LuLu Exchange UAE has announced today a partnership between Ripple and the Fedral Bank of India that will help enchance real-time payments from the UAE to India.

Federal Bank Limited is an Indian private sector, scheduled commercial bank headquartered in Aluva, Kochi. The Bank also has its Representative Offices abroad at Abu Dhabi and Dubai.

With a customer base of 10 million, including 1.5 million NRI customers and a large network of remittance partners across the world, Federal Bank handled more than 15% of India’s total inward remittances of $79 billion in 2018. The Bank has remittance arrangements with more than 110 Banks/Exchange Companies across the world. The Bank is also listed in the BSE, NSE and London Stock Exchange and has a branch in India’s first International Financial Services Centre (IFSC) at GIFT City in Gujarat.

 

 

 

Thanks to @petervas6 for finding this.

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