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Will cover semi-urban, rural areas in Karnataka and AP

Hyderabad May 9 Global money transfer services provider Western Union will offer its services in about 245 semi-urban and rural locations in Andhra Pradesh and Karnataka.

The company has tied up with Spandana, a micro finance institution, for the purpose, Mr Ratheesh Kumar, Country Director, Western Union, told newspersons here on Wednesday.

"Albeit no primary data is available, there has been considerable migration of rural men from Andhra Pradesh and Karnataka to the Gulf countries and other regions on work permits and the remittances to families from there are quite significant. We see huge potential in semi-urban and rural areas," he said.

The tie-up with Spandana would provide Western Union the data of about 1 million households. "We are also open for more tie-ups to expand our reach," he added.

Ms G. Padmaja Reddy, Managing Director, Spandana, said the tie up with Western Union would be a value addition to its services. "This offers a broader platform for our rural customers," she said.

According to World Bank's Global Economic Prospects 2006, India is the largest recipient of remittances in the world.

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