Released on: August 12, 2008, 8:56 am

Press Release Author: south indian bank

Industry: Financial

Press Release Summary:
South Indian Bank(SIB) has launched a premium Savings Bank account called "NRE
Savings- Diamond Account" for its NRE customers who maintain high average balance
in their SB accounts. This account offers multi - city features, besides many
tech-savvy features adding to customer convenience.


Press Release Body:
Mr.M.K.Abdullah ,one of the earliest NRI customers of the Bank and Chairman of the
EMKE Group (which employs more than 20000 Indians in 25 countries)launched this
premium S.B.account by issuing the First Diamond Account passbook to Mr. Edwin
Tharakan, a prominent NRI. Dr.V.A.Joseph, Chairman and CEO of the Bank presided
over the function.

With the following carefully thought-out value additions of this pioneering product
, banking for NRIs, who maintain an average balance of Rs 50,000/ only , is made
extremely easy and comfortable: -

> Free and unlimited Any Branch Banking (ABB) facilities.
Ø Free and unlimited fund transfer to any other bank account in India through
RTGS and NEFT by debit to NRE accounts.
Ø Free and unlimited purchase of Drafts/Payment Orders by debit to NRE accounts.
Ø Free International ATM-cum-Debit Card for which annual maintenance charges are not
collected.
Ø Free withdrawal of cash through other Banks' ATMs in India.
Ø Free fund transfer facility through Internet Banking.
Ø Free utility payment and e-commerce services for Internet Banking customers.
Ø Free SMS facility and no annual maintenance charges.

Customers of this feature-rich Savings Bank account availing Any Branch Banking
(ABB) facilities can withdraw cash and deposit cheques for collection at any branch
of the bank. Customers can also issue ABB cheques which are payable at par at all
branches of the Bank. This product is available from all the 511 branches of the
Bank which has established one of the largest CORE banking branch net work in India
in the private sector.

Mr.M.K.Abdullah in his inaugural address stated that as a satisfied NRI client of
the Bank for more than thirty years he had been observing the enthusiastic
performance of SIB in the arena of NRI services .He had no doubt that the new
product would be welcomed by the NRIs the world over.

Presiding over the function, Dr.V A Joseph, Chairman and CEO of the Bank, stated,
"South Indian Bank, being a customer - oriented Bank is striving hard to render
personalized customer service using the latest technological capabilities. The
technological capability of the Bank was recognised when the Bank could bag the
banking technology excellence award from IDRBT which is the technical arm of RBI.
The service quality of the Bank has also been recognized when the Bank was selected
in the 'Outlook Money - C Fore' survey as the best private sector Bank in India in
the service quality segment."Dr.V A Joseph also added that Hadi Express Exchange in
Dubai for which management support is being provided by South Indian Bank has
received licenses to open 3 more branches at Dubai, Abu Dhabi and Rasal Khaima. Hadi
Express Exchange is already serving our NRIs in Bur Dubai and Sharjah.

Funds remitted through the branches of Hadi Express Exchange are credited online to
the accounts of the customers within 30 minutes for which the beneficiary gets an
SMS ."SIB Express", the online delivery channel of SIB's NRI services has been
applauded by the customers in the Gulf who number more than 1.65 lakh. Dr Joseph
also referred to the facility recently started for online booking of offerings, free
of bank charges , through South Indian Bank payment gateway-the first bank to go
online booking -by the customers of the bank who are devotees of Guruvayur
Sreekrishna Temple which is described as the Dwaraka of South India. This facility
can be utilized by the NRIs to effect offerings, hassle -free with greater
transparency and security at the click of a button ,either for themselves or their
aged parents .

"South Indian Bank had completed on 26.03.07 the project 'SIBertech' by introducing
a centralised Core Banking Solution in technology partnership with Infosys
Technologies when many banks had not even started implementation of CBS . SIB,
which is affectionately called by NRIs as the "Bank for the Pravasis" had started
this project in 2001 mainly for the convenience of the NRIs.The new product now
launched would confirm this belief",the Chairman concluded his speech.

Mr.H.Suresh Prabhu ,Executive Director ,Mr.Cheryan Varkey,Chief General
Manager,Mr.Alex Mathew,General Manager and Mr.C.J.Jose Mohan ,Dy.General Manager
also spoke on the occasion.





Web Site: http://southindianbank.com

Contact Details: Simon Joseph, Senior Manager,
Corporate Comunications,
The South Indian Bank Ltd.,
Head Office,Trichur,Kerala Ph:0487-2423858
Mob:9847404555 E-mail: ccm@sib.co.in