UTI Bank launches 'Remittance Card'
Mumbai: The UTI Bank has launched `Remittance Card' in association with Remit2India, a Web site offering money-transfer services. The card is designed to provide convenience and safety to Indians who receive remittances from their family members overseas, said a press release.

The card works like a debit card where the sender simply books a remittance at www.remit2india.com. The recipient in India receives the remittance at his or her home through the card and activates it by visiting the nearest UTI Bank branch.

The recipient can use the card to withdraw funds at any of the 15,000 ATMs across the country. For subsequent remittances, the card is instantly reloaded when the sender remits the money. The transfer is fast since it is done online and received instantly, and is also safer.

The card may be cancelled and replaced if it is lost or stolen.
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StanChart commits $5 million towards Tsunami relief in Asia
Mumbai: Standard Chartered Plc has committed $5 million (around Rs22 crore) to relief and reconstruction activities in countries affected by recent tsunami.

The bank will channel its contributions through local relief funds in Indonesia, Sri Lanka, Thailand, India and Malaysia, said a press release.

According to Mr Mervyn Davies, group chief executive, Standard Chartered, the $5 million was an initial contribution to the disaster and the bank has established a task force to co-ordinate its response to longer-term reconstruction.
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Laser Soft tool for banks
Mangalore: Laser Soft Infosystems Ltd has launched 'e-circular,' a software product for the banking industry. A company release said that the product facilitates the instant delivery of circulars in an electronic form from the head office to all branches and offices that are connected either to the bank's Intranet or to the Internet.

The release said that the implementation of the product was in progress in the State Bank of India. It will cover all of its associate banks next year. Corporation Bank will also implement this product. With 'e-circular,' banks can save up to Rs 1 crore annually for every 500 branches.
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