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Sber launches rupee transfers to Indian banks

The minimal transfer amount will be $519 and there will be a fee charged totaling 1% of the transfer amount

MOSCOW, August 8. /TASS/. It will now be possible to use Sber to transfer rupees to Indian banks via an account number, the Russian credit institution said.

"Sber has opened rupee transfers against an account number to Indian banks. Any client of the bank can send money via the Sberbank Online app (on Android-based devices - version 14.4 and higher, on iOS-based ones - [version] 14.11), or using the web version of the online bank," Sberbank said.

If a Sber client has Indian rupees in their savings account, the rupee will be the transfer currency, the bank said. If it contains rubles, the Russian currency will be used. The minimal transfer amount will be 50,000 rupee or rubles ($519) and there will be a fee charged totaling 1% of the transfer amount. The delivery time will be up to three business days.

Sber launched transfers in Russian rubles to India in June.

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