Date:27/04/2008 URL: http://www.thehindu.com/2008/04/27/stories/2008042760140600.htm

Tamil Nadu - Chennai

Electronic International Money Order services launched

Special Correspondent

Indians working in UAE can avail themselves of the facility: Raja

CHENNAI: Electronic International Money Order services between India and United Arab Emirates through the International Financial System was launched by Union Minister of Communications and Information Technology A. Raja on Saturday.

The Minister said as a first step Indians working in UAE could avail themselves of the facility and transfer the money to their families. The service was now available in 110 head post offices across the country, including 22 in Tamil Nadu.

The money would reach the payee in two days. If they wanted to collect the money on the same day they could do it at the post office counters.

As per the arrangements, money order up to Rs.20,000 will be payable at the payee’s address in India.

If the amount is between Rs.20,000 and Rs. 50,000 it will be paid in cash at the authorised counters in the post offices. Payments above Rs.50,000 will be made only by cheque.

Stating that the post offices could not remain idle in the age of competition and the postmen in rural areas could not afford to carry only letters, he said they should prepare themselves for diversification of services, utilising the massive infrastructure.

Mr. Raja said 1.6 lakh post offices in the country could join hands with the nationalised and scheduled banks to extend banking services. “The post offices can get a minimum of one or two per cent commission for the money they collect. A pilot project has already been implemented in association with the SBI in rural areas,” he said.

Mr. Raja also stressed the need for increasing the commercial value of the assets of the postal departments across the country. “But the ownership of the properties will continue to remain with the Postal Department.”

The Minister expressed the hope that a law to regulate and streamline the courier services in the country would soon be enacted.

“Couriers do not come under the evidence Act. We have to change it. My proposal in this regard has been sent to various ministries,” he said.

Mr. Raja also released a commemorative fragrance stamp on jasmine.

The postal department already launched commemorative fragrance stamps on sandalwood and rose.

Awards distributed

Later he distributed awards to best performers in Postal Life Insurance and Rural Postal Life Insurance.