ICICI Bank, one of the India's largest private sector banks, announced the launch of 'Money2World', a fully online outward remittance service for resident Indians. 

The bank said, "With this, non-account holders of ICICI Bank can now transfer money online from any bank account in India to any bank account overseas in 16 major currencies, in a convenient and fully secure manner." 

A first-of-its-kind service by any bank in India, it is available to users 24x7 on all days. Users can remit money overseas from India using ‘Money2World’ for an array of purposes including education, maintenance of close relatives, medical treatment and visa fee to emigration authorities or embassies, among others. 

Vijay Chandok, president, ICICI Bank said, ''At ICICI Bank, we constantly strive towards finding new solutions that add to the convenience of customers. Now, with 'Money2World', we offer a unique service to resident Indians to transfer money across the world anytime, even beyond banking hours.''

Shares of the bank declined Rs 0.3, or 0.1%, to settle at Rs 287.40. The total volume of shares traded was 355,241 at the BSE (Tuesday).