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Western Union Targets India Biz Expansion
si Team
Tuesday, March 2, 2004
Western Union money transfer is going all out to tap the Non Resident Indian remittances market. A plan to increase the number of distribution points in India from the current level of 15,000 to about 20,000 is on the anvil.
Not just that, the company has announced plans that will be highly specific to the Indian diaspora. These include the opening of dedicated remittance outlets on the business premises of NRIs.

The number of such outlets may be to the tune of a hundred or so, in locations as diverse as Indian restaurants, grocery stores or newspaper stands.

At present the favored method to send money home include drafts or funds credited into the recipient's bank account.

There is some $15 billion worth of money on the move to India, out of which 80% goes through banks.

Western Union aims to get a larger share of this pie. In 2003, they added 4000 outlets in India.
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