Barclays Bank’s NRI services has unveiled ‘Barclays NRI Dual Account’ (BDA) proposition, targeting Indian students studying in the UK – reported Business Standard. It has been reported that UK is the favourite destination for about 30% of the total number of Indian sudents who apply for graduate and post graduate courses abroad. Barlclays has claimed that BDA allows Indian students to access an ‘International Students Account’ in the UK and a ‘NRE Savings Account’ in India at the same time.
Ram Gopal, interim managing director, India, Barclays Global Retail and Commercial Bank (GRCB) said: “The United Kingdom is an important destination for Indian students who wish to pursue further studies overseas. We at Barclays realized that with the growing number of students focusing on the UK, there is a definite need for banking products and services that cater to the current and emerging needs of the Indian student overseas.”
Key features of BDA include: Zero balance NRI saving account; Higher cash withdrawal and point of sale limits of INR50,000; Free online or branch based money transfer from the UK to India; Access to over 1700 branches and 3000 ATMs across the UK through the UK account, and Free international ATM cum debit card, reported the newspaper.
Barclays GRCB India launched its commercial banking services in the country in 2006 and followed it up with the launch of its retail services in 2007.
