ICICI Bank Limited (“ICICI Bank”), India's largest private sector bank has announced the launch of ‘Fixed Rupee’ – a convenient facility that enables Non-Resident Indians (“NRIs”) to send the exact Rupee amount remittance to India since the exchange rate is confirmed at the time of initiating the remittance. 

This is a significant value addition over the traditional money transfer mechanisms where the rates are not available at the time of initiating the remittance.