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Kolkata , May 25

INDIA has emerged the second largest market for Western Union, the international money transfer service provider, next only to the United States.

Western Union, which recently flagged off its 21,000th agent location in the country, is set to expand its operations further, mainly through tie-ups with banks. India saw large-scale inward remittances taking place every year, said Mr Anil Kapur, Regional Vice-President, South Asia, Western Union.

"The growth potential is high for a market as large as this," he said, adding that Indians living abroad need efficient and reliable money transfer facilities.

On Wednesday, Western Union, along with Weizmann Forex, one of its agents in India, announced a tie-up with UCO Bank to offer in-bound money transfer facilities.

This is the company's second such tie-up with a Kolkata-based bank - the first, announced on May 18, was with United Bank of India.

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