Q. Which two companies have recently signed a deal to enhance cross-border payments between India and the Gulf region?
Answer:
HDFC Bank and Lulu Exchange
Notes: HDFC Bank and UAE-based financial services company Lulu Exchange, have partnered to strengthen cross-border payments between India and Gulf Cooperation Council (GCC) region. Both sides have signed a memorandum of understanding (MoU) to enable remittances to India through HDFC’s online and mobile banking powered by LuLu Exchange. In a press release, the bank said they will launch the ‘RemitNow2India’ service for quick money transfers from UAE.