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Kunal Mandot
Deputy Manager, ICICI Bank
kunalmandot32@gmail.com
Breakthroughs Batch- 2021-23
in International
Remittances:
Transforming Cross-
Border Payments 1. A New Era of Speed: Real-Time and
Express Transfers
Gone are the days when sending money
For millions of families, businesses, and abroad meant waiting anxiously for days on end.
communities—especially in countries like India— Traditional remittance routes often involved multiple
international remittances are more than just money middlemen and lengthy checks, causing frustrating
transfers; they are a vital lifeline. With such a vast delays. Today, thanks to innovative express transfer
Indian diaspora spread across the globe, particularly services, funds can reach Indian bank accounts
in the USA, sending money home has always been a within hours—or even minutes. Take ICICI Bank’s
crucial, yet often challenging, task. Thankfully, Money2India service, for example. It promises to
recent advancements in cross-border payment credit money in less than four hours, a game-changer
technologies have made this process faster, safer, for families needing to meet urgent expenses or
and more affordable than ever before. businesses handling critical payments. Such rapid
transfers bring peace of mind and flexibility, helping
recipients manage their finances without delay.
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