Domestic Remittance: Money Transfer Anywhere and at Anytime in India

Deepak Venkatesh () and Anand Kumar Bajaj ()
Additional contact information
Deepak Venkatesh: YES Bank
Anand Kumar Bajaj: YES Bank

A chapter in Driving the Economy through Innovation and Entrepreneurship, 2013, pp 775-784 from Springer

Abstract: Abstract Domestic migrant workers are able to remit savings back home via National Electronic Funds Transfer through an integrated platform of collaborative services of YES Bank and banking correspondents. All the parties symbiotically benefit from this relationship leading to convenience for migrant workers where they avail this service 24 h a day without complete KYC at very low service charges even for small-sized transactions. Simultaneously banking correspondents earn an income and generate footfalls, whereas the bank gains brand visibility and a modest fee. This setup saves man hours and breaks even in a very small time span.

Keywords: Migrant Worker; Short Message Service; Bank Branch; Internet Banking; Money Transfer (search for similar items in EconPapers)
Date: 2013
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-81-322-0746-7_63

Ordering information: This item can be ordered from
http://www.springer.com/9788132207467

DOI: 10.1007/978-81-322-0746-7_63

Access Statistics for this chapter

More chapters in Springer Books from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().