Financial Daily from THE HINDU group of publications
Tuesday, May 13, 2003
Financial Daily from THE HINDU group of publications Tuesday, May 13, 2003 |
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Money & Banking
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Financial Services Logistics - Supply Chain Management More post offices get global money transfer facility Our Bureau
COIMBATORE, May 12 THE Department of Posts has extended the International Money Transfer Service (IMTS), which facilitates instantaneous transfer of funds from abroad to India, to seven more sub-post offices in the Coimbatore Postal Division. The facility, first introduced in the State in May 2001, is currently available in the Coimbatore Head Post Office and R.S. Puram HPO in the city. It is being extended to the post offices at Coimbatore Central, Karunyanagar, Peelamedu, Podanur, Kuniamuthur, Madukkarai and Ondipudur with effect from May 14. According to Mr P. Nallathambi, Senior Superintendent of Post Offices, Coimbatore division, the IMTS launched by the department in association with Western Union Financial Services, US, enables immediate remittance of money from 185 countries to India. The recipients will be able to collect the money within minutes after the sender makes the remittance. The full amount would be paid in Indian currency and any of the following documents - voter ID card, passport, driving licence and PAN card - may be produced to establish identity to receive the payment.
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