India Post to expand services for money transfer services
Thursday, 08 May 2003, 19:30 IST
Printer Print Email Email
NEW DELHI: State-run India Post Wednesday said it would expand association with Western Union Financial Services Inc., a leader in money transfer services, to boost money transfer business between Britain and India. Western Union and India Post had signed a five-year agreement to offer international money transfer services in India Post locations across the country in 2001. In the last two years, India Post offices offering Western Union services have grown to 4,200 agent locations across the country. India Post plans to scale this figure up to about 5,000 locations by end of the year. "India is an important market for Western Union globally and we are proud to be associated with India Post to nurture our growth in the country," said Shekhar Nair, regional manager of Western Union Financial Services Inc. "It is also our constant endeavor to provide value added services for our customers," he told a press conference here. Said Rameshwari Handa, deputy director general (financial services) of India Post: "Our association with Western Union has given us the opportunity to expand our current array of services and serve our customers better. "Our relationship with Western Union is also contributing significantly to our revenues." The Indian postal system comprises a vast network of more than 150,000 post offices, providing basic postal services and postal banking services. Western Union and its subsidiary, Orlandi Valuta, together make up one of the world's largest money transfer networks with a total of approximately 159,000 agent locations in more than 195 countries and territories.
Source: IANS
siliconindia