The agreement is expected to nearly doubling EzRemit’s network in India. PNB will offer EzRemit’s instant money transfer services across all its branches in India.
Under the terms of the agreement, receivers can instantly collect money from any of PNB’s branches by providing proof of identification and completing a simple receive form with the security reference number.
EzRemit’s services from across the globe will be available to PNB account holders as well as to non account holders in India.
PNB executive director MV Tanksale said PNB has had an excellent relationship with BFC Group holding for over 10 years, having Rupee Drawing Arrangement with Bahrain Financing Co Bahrain and Bahrain Exchange Co in Kuwait.
"The alliance with EzRemit will further facilitate remittances from around 50 countries particularly from Gulf region through the bank’s large network across India," Tanksale said.
With this expansion, EzRemit will offer its international money transfer services through a total of 13,800 locations in India.
