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India Post and Emirates Post are launching an
International Money order service between UAE and India to
facilitate International Money remittances by the people of
both countries. The service uses the secure International
Financial System (IFS) of the UPU (Universal Postal Union)
IFS-MO service is to be inaugurated by the
Hon’ble Minister of Communications & IT, Thiru A. Raja on 26th
April 2008 at Chennai. Tamil Nadu.
An agreement,
regarding the same, was signed in Dubai on 2nd January, 2008
by Director General of India Post, Sh. IMG Khan and Chief
Executive Officer of Emirates Post Mr. Ibrahim Karam Ali Bin
Karam.
The service will
initially offer remittances from UAE to India. The service
will cover Head Post Offices in Delhi, Mumbai, Chennai,
Kolkata and Kerala. 97 Head Post Offices and over 2400 Sub
Post Offices will thus be offering this service. Residents
of UAE,
especially migrant workers,
can now transfer money speedily on very economical rates to
any location under these Post Offices through India Post.
The network will soon be extended to cover the whole
country.
Customers availing
IFS-MO service for sending money to India through Emirates
Post offices will have two options- they can either have the
money delivered to the addressee’s residence, or ask the
addressee to collect the money from any authorized post
office in India, which is on the network. The latter will be
available in the second phase.
A single Money
Order issued by Emirates Post for payment in India shall not
exceed 2,500 US Dollars or its equivalent. Furthermore, only
12 Money Orders addressed to one beneficiary will be allowed
in a calendar year.
Amounts upto Rs. 20,000
will be paid at payee’s address by a Postman in cash.
Amounts greater than Rs. 20,000 and upto Rs.50,000 can be
paid in cash across the post office counter, and those
exceeding Rs.50,000 will be payable only by cheque. |
