What are the ways in which I can remit money by applying to New York branch?
A. 3: Remittances to India There are six ways in which money can be remitted to India by applying to New York branch. These are: (a) Rupee Remittance to Account: Rupee remittances for the credit of the account of the beneficiary can be sent by us to any branch of any bank. To nearly 15000 branches of State Bank Group on the core banking network, remittance can be sent instantly, thru Instant* Transfer? in a few minutes. There is no ceiling on such remittances. To nearly 5800 branches of SBI and 33000 branches of other banks, the remittance can be sent electronically, provided the beneficiary’s computerized account number in full is provided in the remittance application. The electronic message is sent by either wire transfer (SWIFT) or State Bank Electronic Payment System (STEPS) or Real Time Gross Settlement System (RTGS), and the beneficiary’s account is credited usually in 1 banking day, after the message is sent from New York. To other branches and other banks, the remittance is se
A. 2: Remittances to India There are six ways in which money can be remitted to India by applying to New York branch. These are: (a) Rupee Remittance to Account: Rupee remittances for the credit of the account of the beneficiary can be sent by us to any branch of any bank. To nearly 3000 branches of SBI, the remittance is sent by either wire transfer (SWIFT) or State Bank Electronic Payment System (STEPS), and the beneficiary’s account is credited usually in 1 to 3 banking days, after the message is sent from New York. To other branches and other banks, the remittance is sent as wire transfer to our link branch in Chennai, which issues a rupee draft and sends it to the beneficiary branch/bank by courier (where available) or by registered post. At centers which are covered by the courier service, the draft is usually delivered within 3 to 7 days after dispatch from Chennai. At other centers, the draft is usually delivered in 1 to 2 weeks. (b) Rupee Remittance to Beneficiary: Rupee remit
