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South Indian Bank rises on inking pact with Flyworld Money Exchange for remittances

10 Apr 2017 Evaluate

South Indian Bank is currently trading at Rs. 21.90, up by 0.25 points or 1.15% from its previous closing of Rs. 21.65 on the BSE.

The scrip opened at Rs. 21.65 and has touched a high and low of Rs. 22.00 and Rs. 21.65 respectively. So far 637985 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 23.12 on 07-Oct-2016 and a 52 week low of Rs. 15.61 on 08-Apr-2016.

Last one week high and low of the scrip stood at Rs. 22.20 and Rs. 20.00 respectively. The current market cap of the company is Rs. 3939.20 crore.

The Institutions and Non-Institutions held 50.36% and 49.64% respectively.

South Indian Bank has entered into an agreement with Flyworld Money Exchange to facilitate remittances by Indian expatriates in Australia. Through this tie-up, NRIs in Australia could enjoy quick and cost-effective remittances to India using the SIB Express facility. Using this facility, NRIs can now remit funds with ease to any commercial bank in India. South Indian Bank has a correspondent banking arrangement with National Australia Bank for remittances to India.

With this agreement, SIB marks the first remittance arrangement with an exchange house in Australia. The new facility will enable the bank to reach the Indian Diaspora in Australia more efficiently.

South Indian Bank Share Price

38.95 0.17 (0.44%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
HDFC Bank 799.90
ICICI Bank 1347.50
Axis Bank 1359.15
Kotak Mahindra Bank 383.50
Indusind Bank 853.15
View more..

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