Under the National Financial Inclusion Strategy, many public-sector banks offer accounts that charge no fees for remittances. 

To streamline the remittance arrangement under the Speed Remittance Procedure and make remittances more cost-effective, the Government of India has removed the mandated requirement of maintenance of collateral or cash deposits by the Exchange Houses with whom the banks have entered into the Rupee Drawing Arrangement. 

Authorized Dealer (AD) banks are free to determine the collateral requirement, if any, based on factors, such as, whether the remittances are pre-funded, the track record of the Exchange House, whether the remittances are effected on gross (real-time) or net (file transfer) basis, etc., and the ADs may frame their own policy accordingly in this regard. 

India’s authorities have permitted AD Category I Banks to partner and leverage on the systems and services of non- bank entities to effect small value outward remittances.