ICICI Bank has tied up with Sadad Electronic Payment Systems to offer remittance service for non-resident Indians (NRIs) based in Bahrain.

The 'Touch n Remit' service is available through Sadad kiosks across the kingdom, allowing NRIs to transfer money instantly to India, even if they don't have an account with ICICI Bank, said a report in the Gulf Daily News (GDN), our sister publication.

The service will be available to registered customers only and registration can be done at ICICI Bank Bahrain branch.

ICICI Bank president Vijay Chandok said money transfer will be offered to more than 100 banks in India.

“ICICI Bank beneficiaries will receive money instantly in their account, while other bank's beneficiaries will receive funds in their accounts between two and 24 working hours,” he added.

Sadad chief executive Abdullah Al Ghatam said the firm is the first to provide 24-hour money remittance in the country.

“We're confident in the strength and quality of our product that now allows you to transfer by touch, anywhere, anytime to India.” - TradeArabia News Service