UAE Exchange Centre, one of the world's largest money exchange and remittance service providers, has applied for a banking licence in India.
Sudhir Kumar Shetty, Chief Operating Officer, told Gulf News in an exclusive interview: "We have applied for a full banking licence in India in April, following the Indian Union Finance Minister's announcement that deserving candidates could apply for new banking licences."
The move could mark a new beginning for the UAE's largest remittance service provider which last year recorded a turnover of $29 billion (Dh106.4 billion).
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