Banking
Axis Bank ties-up with Xpress Money for mobile fund transfer

Under the tie-up, people can send money through any agent location of UAE Exchange and Financial Services called Xpress Money to a registered mobile number in India

 

Mumbai: Private sector lender Axis Bank said it has entered into a tie-up with UAE Exchange and Financial Services to launch inward remittances through mobile.

Under the tie-up, people can send money through any agent locations of UAE Exchange and Financial Services called Xpress Money to a registered mobile number in the country, the bank said in a statement issued.

Xpress Money has 1.35 lakh agent locations operational in 125 countries.

The recipient has to register at any Axis Bank branch once and can withdraw the money sent from any Axis Bank ATMs with the help of codes sent to their registered mobile number, the statement said.

“This solution will help customers eliminate the need to visit physical agents and provide documentation every time they receive a money transfer,” the bank's president and head of treasury and international banking P Mukherjee said.

A beneficiary can receive a maximum of 30 transactions in a calendar year and the maximum amount one can receive is presently capped at Rs18,000, per remittance transaction, it said.

Meanwhile, Federal Bank, also announced a tie-up with Saudi Arabia-based Samba Bank for inbound remittances which can be collected by the beneficiary through any of the bank's 976 branches in the country, it said in a statement.

This is the 68th such tie-up the bank has stitched with financial institutions in the Gulf region having significant population from the diaspora, it said.

User

SBI launches eFile service for filing I-T returns

For salaried individuals the fee starts as low as Rs150, inclusive of taxes, which can be paid by the customer through SBI internet banking or debit card, SBI said

 

New Delhi: State Bank of India (SBI) launched a new service that will facilitate filing Income Tax returns online, reports PTI.

This service is currently available only to the bank's customers, at a discounted price, SBI said in a statement.

For salaried individuals the fee starts as low as Rs150, inclusive of taxes, which can be paid by the customer through SBI internet banking or debit card, it said.

“Considering that it is mandatory for individuals earning an annual income in excess of Rs10 lakh to file their returns online from the current financial year, there is a growing demand for online tax filing services which SBI is trying to meet and provide for its customers through its eFile service,” it added.

Apart from salaried individuals, the service is available to individuals who are self-employed, professionals, etc., it said.

For a higher fee, it said, the facility provides enhanced features such as professional review, tracking of tax refund, an online tax vault to store and access tax related documents, online filing using digital signature etc.

User

SBI waives minimum balance criteria for savings bank account

SBI will not levy any charge for breaching minimum balance criteria for savings bank...

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