UAE Exchange to launch unique mobile based remittance facility
Kochi: The UAE Exchange is to launch a remittance facility called Wallet Telephone Software in Dubai on January 10. The Exchange has tied up with C-Sam, led by Sam Pitroda, to launch the facility. The facility will soon be extended to other Gulf countries and India, according to the UAE Exchange Group.

The software enables the customer to remit money from his account using a four-digit number from his mobile phone. The facility, claimed to be the first of its kind in the world, could be used for money transfer, bill payments, credit and debit card payments, besides utility bill payments.

The annual remittance of the exchange to India is expected to touch Rs6,000 crore this year from the current Rs5,600 crore. Kerala alone accounts for more than seventy per cent of this.
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Indian Bank in pact with TNPL
Madurai: The Indian Bank has tied-up with the Tamil Nadu Newsprint and Papers Ltd (TNPL) for financing farmers taking up farm forestry project with the sponsorship of TNPL. For 2004-05, TNPL is implementing a plan to develop 2,500 acres of eucalyptus and casurina plantations.

Under the tie-up, the Indian Bank will be extending finance to around 400 farmers.

During the current financial year, 260 farmers will be given around Rs 1.26 crore.
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