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South Indian Bank has its corporate EXIM CUSTOMERS for ‘SIB TF Online’ A new portal named The portal facilitates a platform for business related payments to foreign entities remotely. Customer can initiate payment request on SIB TF Online after uploading relevant supporting documents for the transaction.
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About “SIB TF Online”
- SIB TF Online is yet another achievement of the bank to make its operations more technology-driven. It allows introduction of internet banking facility for retail savings and NRE SB customers to initiate overseas remittances without visiting the branch.
- The bank plans to launch SIB TF Online in phases, with the initial version allowing three types of import remittances such as advance remittance for imports, remittance against import bill received from a foreign bank for collection (bank-to – Bank Foreign Inward Collection Bill) and payment for import documents received by the importer directly from foreign suppliers.
Important takeaways for all competitive exams:
- South Indian Bank Headquarters: Thrissur, Kerala;
- CEO of South Indian Bank: Murali Ramakrishnan;
- Establishment of South Indian Bank: 29 January 1929.
