An agreement between state-owned Central Bank of India (CBI) and leading outbound travel agency Thomas Cook was signed to offer a money transfer service via MoneyGram International, a leading global payment service.
Since 1997 Thomas Cook has been a partner of MoneyGram in India.
"We are pleased to offer MoneyGram Money Transfer Services through our branches. Non-resident Indians (NRIs) and their family members can use these services," bank chairperson and managing director H.A. Daruwalla said.
Transfer of funds to India from US, Britain, Canada, Australia and the UAE, is very high as large number of NRIs settled in these countries. With the starting of this service people will be able to do transactions easily.
"Reaching to our customers is very important and they can complete their transactions at high levels of convenience," Thomas Cook (India) Managing Director Madhavan Menon said.
According to MoneyGram's regional director for south Asia Harsh Lambah, the Central Bank of India is having a network of 3282 branches through which it can provide convenient and reliable money transfer services anywhere.