We have encountered this many a times and we end up just being frustrated. Lately, we have been looking at other alternative than just relying on ICICI Bank for foreign remittances. From the look of it, ICICI Bank is delaying crediting our money into our own accounts so that they can play with it for coupla days thus earning them huge interest.
Everytime a foreign remittance arrives to our account, it has become normal for a delay of about 6-7 days. Nonethless, on my personal account, it happens in the next 24 hrs or worst case scenario, 48 hrs. And I am talking about just US$ remittances, GBP is a real delay and this follows similar pattern for Euro too.
I am sure, they don’t do for mega corps like Infosys, Tata, et al but only with smaller entities like us. But this is hitting us hard with the problem that we cannot chalk out timelines of our budget, spendings, etc.
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