Western Union Money transfer has transferred $6.5 billion worth of remittances along with India Post through the 7,000 postal locations across India in the last decade.
“India Post is an integral part of Western Union's India-wide agent network and the largest Western Union in-country network,” Western Union South & South-east Asia Managing Director, Mr Anil Kapur, told reporters here.
India Post is the world's largest postal network with over 1,55,000 post office, with a significant presence across rural India. Western Union has over 4,00,000 agent locations across 200 countries and territories.
“At India Post, we strive to exceed the expectations of our consumers and society,” Department of Post Deputy Director General (Financial Service), Mr A S Prasad said.
According to the World Bank, India continued to be the largest recipient of remittances in 2010 to the tune of $55 billion, owing to the growing diaspora, strong investment opportunities in India and the growing needs of middle class.