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[January 13, 2006]

Western Union to provide inbound service for State Bank of India

(Asia In Focus Via Thomson Dialog NewsEdge)NEW YORK, Jan 13 Asia in Focus - WESTERN UNION, a leading provider of money transfer services, announced Thursday that its authorized Agent, KUONI TRAVELS, has entered into an agreement with the STATE BANK OF INDIA LTD (SBI) to provide inbound money transfer services. Through the landmark agreement, Western Union said its money transfer services will now be available at more than 200 branches of State Bank of India, with more to be added during the current year.


* According to the World Bank's report on Global Economic Prospects 2006, India receives the highest amount of remittances, with US$21.7 billion sent to the country last year.

* "SBI is one of the biggest and probably most trusted brands in India ... joining Western Union's Agent network reiterates SBI's commitment to Indians living in India and abroad to provide fast, safe and RBI-licensed money transfer services," said Hikmet Ersek, senior vice president, Western Union, Europe, Middle East, Africa, and South Asia.

SUMMARY

Western Union signs deal with the State Bank of India to provide inbound money transfer services

ASIA IN FOCUS

13-01 1900

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