Western Union launches 60,000 agent location in India
03 Sep 2010
Further strengthening its reach into the Indian hinterland, the Western Union Company, global leader in money transfer services, today launched its 60,000 agent location, which offers international money transfer services in India.
The store was opened at Western Union's principal agent, Wall Street Finance Limited's (WSFL) new location in Mohali, Chandigarh.
''Western Union plays an important role in connecting NRI's from around the world with their families, and we facilitate the inflow of remittances into India, by providing a formal channel for money transfer'', said Anil Kapur, Western Union's managing director for South and South East Asia.
Rajeev Maheshwari, director and CEO of Wall Street Finance Ltd, said, ''With Western Union's support, we are now aggressively expanding our reach across non-metros, tier 1 and tier 2 cities, empowering even more consumers effective and efficient transactional access to fast, reliable and convenient money transfer services.''
Western Union's India network is the largest single in-country agent network across the company's global agent network in over 200 countries and territories.
As per Reserve Bank of India (RBI), India received over $52 billionn in remittances during the financial year 2009-10.
The study report released in early 2010 attributed 38 per cent of remittances flowing into India originating from North America followed by gulf countries accounting for 27 per cent and Europe at 18 per cent of the total remittances received.