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Federal Bank has tied up with Samba, the Saudi Arabia-based bank for disposal of cash remittances.
Under the arrangement, remittances received through the Samba bank under ‘SpeedCash Now’ can be encashed by the beneficiaries from any of the Federal Bank branches up to Rs 50,000 per remittance.
Federal Bank has a presence in inward remittance from Gulf countries with 67 remittance tie ups with major exchange houses and banks.
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