Citibank has launched the preferred rupee checking account, a new offering for non-resident Indians.
According to Citibank, the key value-added features of the preferred rupee checking account are a dedicated priority service platform, superior foreign exchange rates on inward remittances, lower service charges on a range of banking services and custom-designed privileges on some characteristic India-oriented requirements of non-resident Indians (NRIs).
The bank said that the preferred rupee checking account will be an account domiciled in India and denominated in rupees under the aegis of the Reserve Bank of India. Through a range of secure channels, preferred rupee checking account customers will be able to remit money from a foreign country into this account, which can then be operated by their mandate holder in India.
N Rajashekaran, country business manager of the global consumer group at Citi India, said: The rupee checking account is our flagship product for the NRI and we are delighted to complement this offering with the launch of the preferred account.
Recognizing the differences in the needs of the NRI, the rupee checking account offers both transactional and lifestyle benefits. We are confident that our assembly of privileges for the preferred rupee checking account holder will help make his interactions with home more enjoyable and rewarding.
