TimesofMoney Times Group
Media Kit
Key Speaker Profile
Picture Gallery
Video Gallery
Press Release
2011
Archives
2010
2009
2008
2007
2006
2005
2004
 
News Room
TimesofMoney's Press Release Archive - Press Releases 2010
 
  • With an increasing number of Indians living abroad, either for work or having settled there and numerous freelancers working on international projects, the foreign exchange remittances into our country has boosted up in the past few years.
    Indians living and working abroad sent home a whopping $55 bn this year as compared to $49.6 bn last year, according to World Bank's Migration and Remittances Fact book 2011. India and China account for almost a quarter of the worldwide remittance flows of $440bn in 2010.
    Overseas Indians have once again topped the world in sending money back home and with bank rates for rupee as well as foreign currency deposits on the rise; it's not surprising that Indian companies are making renewed efforts to attract this money.
    Indian companies are now taking strides in science and technology with which the horizons of the world have broadened. People prefer fast, easy and inexpensive ways of money transfer and expect the customer service to be excellent and professional. With the advent of digital as a medium, distant possibilities have been made achievable. For instance online money transfers are already playing a major role in cross border remittances.
    Online money transfers have simplified life, eliminated the need to use cheques or even go to a bank. The best advantage of online money transfer is that the receiver is able to receive the payment or money within a short span. They are bank neutral and provide flexibility. Many money transfer service providers have developed innovative methods for payments. The Online money transfer is fast, convenient, accessible, transparent and safe mode of transferring money.
    Today everything from communication to shopping to money transfer has become instant and that too by just a click of a button. No longer do you have to spend sleepless nights worrying over whether or not your payment reached the business or beneficiary (the receiver). Today it is simple- just log on, send the payment and get a receipt of the transactions.
    Avijit Nanda is the, President, TimesofMoney a digital payments service provider that manages online remittance services like Remit2India and the following article is released as a customer awareness initiative.
  • TimesofMoney, India's leading digital payment service provider, has signed a service agreement with Federal Bank to offer remittance solutions to all Federal Bank customers worldwide. This tie up would enable all customers of Federal Bank - residing anywhere in the world - to remit funds online to any bank in the NEFT/RTGS network. This latest service provided by TimesofMoney is all about speed of execution, safe & secure transaction environment and competitive pricing both in terms of exchange rates and transaction costs.
    Mr. Shyam Srinivasan MD & CEO, Federal Bank said "With increasing focus on NRIs and facilitating money transfer is need of the hour. Our association with TimesofMoney the leaders in online remittances provide us the opportunity to cater our customers a secure, efficient and cost effective way to send money to their beloved ones back home. TimesofMoney's offering fits the requirements of our NRI customers perfectly. Their track record in providing remittance solutions has been impeccable and we are confident that our customers would benefit immensely as a result of this association".
    Commenting on the tie up, Mr. Avijit Nanda, President, TimesofMoney said: "We are pleased to announce our association with one of the most prominent bank in South India. Our partnership with Federal Bank is a major step forward to strengthen and expand our remittance gateway. It further provides us a major reach in South India with Federal Bank's strong presence there. Our motto of customer first also matches theirs and we are confident that this alliance would delight customer".
    This partnership provides an opportunity to serve the needs of NRI customers of Federal Bank across 23 countries and in nine currencies. This association with Federal Bank is of strategic significance to TimesofMoney because it will be single handedly facilitating the entire online remittance process end-to-end, rather than just being a technical facilitator.
    The alliance is a tribute to the technology and risk management capabilities at TimesofMoney, which believes in a trustworthy, safe, secure and transparently way of transferring money. The alliance further strengthens TimesofMoney's distribution network.
  • · Remit2India scores 57 out of 70 to bag the award from the Web Marketing Award Association
    · Also secures the highest rank in Interactivity, Technology & Ease of use parameters
    Remit2India, the online money transfer service for NRIs from TimesofMoney, has added an other feather to its cap.
    Remit2India's Website has recently won the esteemed "Standard of Excellence WebAward", from the Web Marketing Association (WMA) in its 2010 WebAwards competition. Remit2India's website was recognized as the "Best of Industry" in the International Business & Technology categories for 2010. Some of the past winners were FedEx, Cisco, SAP, UPS, Nokia, AT&T amongst others.
    For two decades, the WMA has been setting standards to create a high standard of excellence for Web site development and marketing on the Internet. Judges are drawn from the top executive tiers of Internet marketing, on-line advertising, public relations and website design professions. The WMA's annual WebAward Competition has been helping interactive professionals promote themselves, their companies, and their best work to the outside world.
    Commenting on this achievement," Mr. Avijit Nanda, President, TimesofMoney Ltd. said, "We are honored to receive this prestigious award and are especially proud that our team's effort in attaining the highest standards of quality and creativity is recognized by senior members of the international web marketing fraternity".
    "It is indeed a matter of great pride for us to have scored above the industry average across all parameters & secure exceptionally high scores on the interactivity and technology parameters. A tribute to our perseverance and commitment to provide the best in the industry".
    Winners were announced last week, which named the best web sites across 96 industries. Entries from more than 2,000 sites in 45 countries were judged on design, copy writing, innovation, content, interactivity, navigation, and use of technology.
    The competition was judged by a team of independent Internet professionals representing a variety of relevant disciplines of Web site development. Judges included members of the media, advertising executives, site designers, creative directors, corporate marketing executives, content providers and webmasters.
    About the Web Marketing Association
    The Web Marketing Association is working to create a high standard of excellence for website development and marketing on the Internet. Staffed by volunteers, it is made up of Internet marketing, advertising, PR and design professionals who share an interest in improving the quality of website development and marketing on the Internet. Since 1997, the Web Marketing Association's annual WebAward Competition has been setting the standard of excellence for Website development. Now in its 13th year, the WebAward Competition has become the premier award event for Web developers and marketers worldwide
  • Standard Chartered Bank, India's largest international bank, today announced the launch of its online remittance service, Transfer2Home, as part of its NRI services offering. The service will enable customers to transfer money to India from USA, UK, UAE, Singapore, Hong Kong and Bahrain.
    Standard Chartered has tied up with TimesofMoney in order to service customers in United Kingdom, United Arab Emirates, Singapore, Hong Kong and Bahrain. TimesofMoney is a leading payments service provider, which serves various financial institutions offering them money transfer service. Its Private Label Remittance Service caters to the global cross-border money transfer industry. Its industry standard platform provides transaction processing which is fully compliant with payment norms suiting regulatory framework in several countries worldwide.
    The Bank has also entered into a strategic arrangement with BNY Mellon for providing Automated Clearing House (ACH) based remittance service from the United States. BNY Mellon is the global leader in asset management and securities servicing. BNY Mellon's Treasury Services group delivers high-quality performance in global payments, trade services, cash management, capital markets, foreign exchange and derivatives, helping clients make payments, optimize cash flow, and manage liquidity more efficiently around the world in more than 100 currencies.
    Commenting on the launch,Shyam Srinivasan, Country Head Consumer Banking, India said, "India is the top remittance receiver in the world and remittance through the online channel is growing at an incredible pace. Hence, it is imperative that we establish our presence in this sphere. Transfer2Home will be a key enabler for our NRI banking business and is a big step forward in further strengthening our NRI banking proposition". Transfer2Home will enable customers to send money directly into accounts of the beneficiaries. This service also marks Standard Chartered Bank's foray into the fast growing online remittance business Standard Chartered Bank in India.
    Speaking on the association with Standard Chartered Bank, Avijit Nanda, President, TimesofMoney Ltd said, "We are extremely happy to extend our services to Standard Chartered bank. With our expertise in the field of online money transfers, we hope to provide unmatched experience to their NRI customers. Along with our transparent and secure transaction system,we wish Standard Chartered Bank's Transfer2Home services the very best to scale to new heights.
  • The weaker Rupee has become the cause for a surge in inward dollar remittance sent by NRIs from the US. Yesterday the US $ reached an exchange rate of Rs. 46.59* against the rupee and this has enabled a lot of NRIs to send money back home in India.
    Remittance inflow from the US has increased by a whopping 37% in the first 20 days of this month when compared to the previous month. This reinstates the fact that the weaker rupee has indeed caught the fancy of NRIs in the US.
    "The recent surge of the dollar against the rupee has been extreme. We have seen a spike in our numbers, both on transactions and volume especially in the past few days. Also a noticeable factor that has come forward over the past few days is that the average remittance amount by individuals has been upwards of US$ 10,000, which is substantially more than our monthly average" said Avijit Nanda, President, TimesofMoney. He also added, "We feel that this trend will only improve over the next few days and we expect more inflows to come into India."
  • All the action and excitement of the Indian Premier League (IPL) Season III will be streamed onto the computer screens of cricket fans across the US on YouTube in association with Remit2India, which announces its official partnership with the popular video-streaming website today.
    Remit2India, India's leading online remittance service, will be the sole sponsor for the US feed of the Indian Premier League (IPL) Season III on YouTube, which will broadcast all the action of the final four matches of the season. The semi-finals, third place playoff and IPL final matches can be viewed by cricket fans across the US for free via the official IPL Channel on YouTube (www.youtube.com/ipl) with sponsorship from Remit2India. This is the first time that YouTube will stream a mega sporting event like IPL 2010 in United States.
    Speaking on the occasion, Mr. Avijit Nanda, President, TimesofMoney, said "Cricket is a religion for many, not just in India, but across the globe. By partnering with YouTube for streaming of IPL semis and finals across US, we will be able to bring cricket fans closer to the action in India. Remit2India has always endeavoured to become the mainstay for the global NRI community by being a part of such path-breaking initiatives."
    YouTube's IPL channel has received more than 40 million views so far for the league matches from almost every country in the world. The US is second only to India in total views for the IPL Channel on YouTube
  • Remit2India launches an exciting offer for its existing and new customers the "March Money Mania". This offer assures cash incentive on every transaction. In addition to this customers can win daily and weekly prizes through sweepstakes.

    Along with the offer, Remit2India also introduces an interactive tool the "Cash-o-Meter". This tool helps existing and new customers calculate the amount that they will receive for every dollar sent.
    Elaborating on Remit2India's "March Money Mania", Mr. Avijit Nanda, President, TimesofMoney said, "We understand the value of every rupee and thus realise its importance. With this thought in mind, we have introduced the 'March Money Mania', which not only offers competitive exchange rates but also adds a little more to every transaction made by our customers. We see this as a huge avenue to increase our existing base by attracting new customers to Remit2India. This is in line with our objective this year to offer innovative offers to our customers and enrich every experience of theirs with Remit2India."
  • Remit2India unveils its unique Cash and Car offer for NRIs, a first of its kind offer to be provided by any money transfer provider. Customers stand to win a brand new luxury car and 5 small cars amongst a host of assured prizes, on remittance of money through Remit2India.com.

    In the biggest sweepstake offer to be launched by an online remittance service provider, Remit2India, the world's no.1 independent online money transfer service, launches its Remit2India Cash and Car offer for Non Resident Indians (NRIs). In the first blockbuster offer of this New Year any NRI customer gets a chance to win a brand new luxury car, 5 small cars and an assured gift for sending money to friends and relatives back in India for a limited period only.

    By participating in Remit2India 'Cash and Car' offer:
    • All new customers will receive US$10, added to their transfers on their 1st transaction.
    • Existing customers will receive US$15 gift voucher (GV) for the 1st transaction in the promo period.
    • All eligible customers automatically qualify for the bumper prize of one Maruti Suzuki SX4 and five Maruti Altos via sweepstake.

    NRI customers can participate in the Remit2India 'Cash and Car' offer by visiting Remit2India's website at www.remit2india.com. The winners will be announced on the website and intimated via mail at the end of the offer period. The bumper prizes will be delivered to the customer's relatives in India while gift vouchers (e-vouchers) can be redeemed from anywhere in the world.

    Elaborating on the Remit2india 'Cash and Car' offer Mr. Avijit Nanda, President TimesofMoney said, "this New Year, we would like to spread cheer amongst our customers and hence we thought of this exciting offer. Being the leader in online remittance services category, we are happy to bring another first of its kind offer wherein NRI customers get a chance to win a brand new luxury car, 5 small cars and a host of exciting prizes. Remit2India's Cash and Car offer is the first amongst many exciting offers and initiatives planned for our NRI customers in 2010."

For related information go to www.remit2india.tv / www.remit2india.net.in / www.remit2india-services.com