Sangli Bank And Western Union Form PartnershipDate: Saturday, March 13, 2004
Mar 13 - Western Union Financial Services Inc, a global leader in money transfer services, and Karnataka Bank have announced their strategic tie up with Sangli Bank to provide inbound money transfer services at Sangli Bank locations across the country.
Initially the Western Union Money Transfer service will be available at 20 Sangli Bank locations across India, which will make it even more convenient for people to receive money from their friends and relatives abroad using the Western Union money transfer service, a press release said.
Current trends indicate that there has been an increase in the remittances sent by Non Resident Indians (NRIs) and students living abroad to their families and friends in India.
'In the western region of Maharashtra there is a large section of NRIs who need a convenient way to send money to their near and dear ones in India. Sangli Bank with its reach in Maharashtra will give more people easier access to Western Union's quick, convenient and secure money transfer services,' the release said quoting Anil Kapur, senior director, South Asia, Western Union.
Commenting on the alliance with Western Union, A R Borde, chairman and chief executive officer, The Sangli Bank Ltd said, 'Sangli Bank' predominantly has a rural and regional base, therefore, our alliance with Western Union gives us the opportunity to expand our services more particularly to the customers from these centres.
He further added that the Bank had identified centres from Western Maharashtra and Konkan area where Western Union services are currently not available for the initial launch.
'The bank is further planning to identify few more centres in a phased manner, to serve our potential customers who need to receive money from abroad through the medium of Western Union.'
Adding, Ananthakrishna, chairman and chief executive officer, Karnataka Bank said, 'we have had tremendous success in the western market through our association with Western Union and with Sangli Bank coming on board, it will only strengthen our reach in the Maharashtra region.
Western Union's global reach combined with our local reach will help our overseas customers to remit money to their loved ones in India reliably.'
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