The Western Union Company, a provider of money transfer services, announced the opening of its 50,000th Agent location in India at the State Bank of India branch in Gurgaon, Haryana.

To mark the occasion, Hikmet Ersek, EVP and MD, Western Union Europe, Middle East, Africa and South Asia (EMEASA), joined Gautam Kanjilal, Chief General Manager (Delhi), State Bank of India, for a special inauguration ceremony.

Western Union, together with its affiliates, Orlandi Valuta and Vigo, is a provider of global money-transfer services. Consumer demand for Western Union services has grown due to a rise in long-term global migration trends, which have resulted in increasing cross-border remittances. India is one of the world’s largest receivers of remittances with more than 26.9 USD billion remitted into India in 2006-2007, according to the Reserve Bank of India.

“India offers immense growth potential in the money-transfer business, and with the launch of the 50,000th location we re-emphasize our commitment to our customers in the country,” Hikmet Ersek said. “Money transfer is a very unique way of participating in the growth and development of a nation, especially in India where Indian Diaspora income is regularly channeled back into the country. Together with our Agents we aim to contribute to the development of the country by delivering fast and reliable money-transfer services to our customers. ”

Gautam Kanjilal, Chief General Manager (Delhi), SBI, said, “We highly value our relationship with Western Union and look forward to delivering even better services to our customers by working closely together.”

Speaking at the inauguration event, Anil Kapur, MD-South Asia, Western Union Services India Private Limited, said: “Western Union is expanding its services in India by increasing our reach as well as adding value to our service offerings. In November 2007, we announced a pilot Mobile Money Transfer Project in association with Bharti Airtel.”

Western Union has 50,000 Agent locations in India spanning over 5,000 cities, towns and villages. This includes more than 8,500 post offices and more than 14,000 branches of leading banks.

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