London, Nov 13: Less than one third of the 14,000 million dollars remitted to India by NRIs every year go through the legal channel, K Noorjehan, chief postmaster general has said. "According to a study, over 28 lakh Indians in US and UK remit an estimated 14,000 million US dollars to India every year and of that only 4,000 million dollars are sent through the legal channels," Noorjehan said at a function.
She said the Western Union, the US-based global leader in money transfer services and India post have an official arrangement for quick transfer and distribution of money planned to bridge the gap and provide reliable services to customers in remote villages in India.
Western Union Financial Services and India Post were here as part of their road shows.
"India Post's visit not only strengthens ties with Indian communities but helps Western Union unite our Indian customers with possibilities that fit their money transfer needs," Don Rankin, Western Union regional director, UK, Ireland and Scandinavia said.
Currently, out of a total 12,000 Western Union agent locations in India, 4,200 are India Post locations. Bureau Report