SBM Bank India, Mastercard partners to facilitate cross border remittances using Mastercard Send

SBM Bank India, Mastercard partners to facilitate cross border remittances using Mastercard Send

• SBM Bank India (promoted by Government of Mauritius) and Mastercard have joined hands to facilitate cross-border payments and remittances services by using ‘Mastercard Send’.

• Mastercard Send is a secured and innovative solution – crafted to modernize domestic and cross-border payments and remittances.

• SBM Bank India is the first bank to receive universal banking licence from the RBI to set up and operate as a scheduled commercial bank through the wholly-owned subsidiary mode.

Points to remember:

1. SBM Bank India has partnered with which company to facilitate cross-border payments and remittances services?
2. Which is the first bank to receive universal banking licence from the RBI to set up and operate as a scheduled commercial bank through the wholly-owned subsidiary mode.?

Source: Economic Times