As per the NSSO (National Sample Survey Organization) survey, around 60% of the domestic migrants send money home with an average remittance size of INR 13000 in India. These remitances, which are used for a variety of uses, including agricultural operation, and marriages were estimated at INR 1.5 Trillion per annum by the economic survey of India 2017. In order to process such transactions, India is still struggling to provide access to banks to the people living in rural & remote areas, therefore, the concept of Business Correspondent had been introduced by RBI. Domestic Money transfer Service centered around IMPS & NEFT has always been the preferred choice of the customer to send money home using nearest agents or customer service points. DMT service agents overcome the challenges of traditional banking such as
Over a million small businesses are looking for the best technology to instantly transfer money to any bank account nationwide. Partner with MDEX, and we'll ensure you have all the right ingredients to make the most of this opportunity.
MDEX is one of India's largest money remittance and IMPS processors. Now you can easily leverage MDEX's strong partnerships and robust technology backend. Offer your network, retailers and customers the ability to instantly transfer money to any bank account nationwide.
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