SBI Partners with Transfast to help NRIs transfer money

first_imgThere is good news for Non-Resident Indians (NRIs) residing in the United States as they can easily send funds into their banks accounts in India. In this connection, State Bank of India (SBI) has tied up with US-based Transfast Remittance LLC to help Indian diaspora in remitting their funds back to India.SBI has tied up with Transfast to help NRIs living in US to transfer their funds back to India.Giving information about the partnership, Siddhartha Sengupta, DMD & Group Executive – International Banking, SBI, said, “We are happy to announce this mutually beneficial association with Transfast Remittance LLC. Now the Indian diaspora in the United States will be able to conveniently send funds directly into their account across various banks in India in the shortest possible time using SBI’s technology platform.”The partnership will enable the US-based NRIs to remit their funds to their bank account with any bank in India using the SBI’s network.Read it at CTI Related Itemslast_img read more

Read More
To Reduce Corruption Just Put Foreign Officials On Scales

first_imgAs long as there has been corruption (that would be quite a while), well-intentioned societies and individuals have sought ways to reduce corruption as well as measure corruption.It turns out, there is a fool-proof way to measure corruption and expose its occurrence.As highlighted in this article:“In today’s age of expense scandals and hidden bank accounts, a medieval custom of weighing elected officials in public may have new cachet. The annual weigh-in, seen as a metaphor for politicians’ misuse of public funds and a mechanism for accountability, persists in High Wycombe, a large town outside London otherwise known for making furniture.To residents hundreds of years ago, proof was literally in the pudding: A widening of the waistline was jeered as a sign that an official had grown fat at taxpayers’ expense. Shrinking girth was applauded as a sign of responsibility and abstemiousness, suggesting that a leader had been working hard on the people’s behalf. Each May, the mayor and other town officials are seated on brass scales in the middle of the town square. Alongside them is the macebearer, who carries a huge gilded club topped with a crown.The weigh-in is preceded by a “tolling out” ceremony involving bell ringing that originated in 1678 when residents, irate at their drunken mayor, stripped him of his authority. According to records, “in token thereof it was ordered that the great bell should be rung out in testimony of his misdemeanours.”At the weigh-in, for those who have gained from the previous year, the macebearer shouts “and some more!” which in the old days led to the crowd flinging rotten fruit at the profligate officials. Those who lost weight are rewarded by the macebearer’s “and no more!” — and by the crowd’s inevitable cheers.”Happy April Fools’ Day from FCPA Professor.last_img read more

Read More