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  • India post goes for a makeover with new services

    India post has signed an agreement with Eurogiro, a global network of banks and financial institutions, for direct money remittance through post offices. Indians working abroad will soon be able to send cash directly to their relatives at their doorsteps through the widespread postal network. “The department of posts will soon join the Eurogiro remittance network, allowing its customers to receive and send money on a par with the best banks in the world,” an official in the Ministry of Communications and IT said to Economic times. Under the proposed scheme, the payment will be made at the doorstep of the beneficiary, as against the existing practice followed by banks and other institutions asking them to come to their offices to collect the payment.

    GBP – INR Forex rates on 12th June 2009

    The GBP-INR FX rates as displayed by various Indian Online Money Transfer service providers are as per the below table -

    Operator Inter Bank Rate  Display Rate % Margin Paise Margin
    Barclays Online MT INR 78.63 INR 77.90 0.92% INR 0.73
    HDFC Quick Remit INR 78.63 INR 77.66 1.23% INR 0.97
    Remit2India INR 78.63 INR 77.86 0.97% INR 0.77
    Money2India INR 78.63 INR 77.28 1.71% INR 1.35
    Axis Remit INR 78.63 INR 77.97 0.83% INR 0.66
    OnlineSBI INR 78.63 INR 77.57 1.34% INR 1.06
    Bank of Baroda INR 78.63 INR 76.96 2.12% INR 1.67
    CitiNRI INR 78.63 INR 77.16 1.86% INR 1.47
             
    The rate are as of 1:07 PM 12-Jun-09  

     

    DisclaimerThe display rates shown in above are for illustration purposes and amy not be applicable to transactions process on the mentioned day or date. We do not claim any responsibility towards the correctness of the data presented here. The data has been colledcted from various websites and we do not solicit any transactions or  remittances based on the above representation.