South Indian Bank has entered into an agreement with Flyworld Money Exchange for remittances by Indian expatriates in Australia. NRIs in Australia will be able to send money to India quickly and in a cost-effective manner using the SIB Express facility. The money can be send to any commercial bank in India. South Indian Bank has a correspondent banking arrangement with National Australia Bank for remittances to India. This is the first remittance arrangement for South Indian Bank with an exchange house in Australia. The facility will also enable the bank to reach the Indian Diaspora in Australia more efficiently. Flyworld Money Exchange has an online remittance platform.
