Indiapost to expand online money transfer service

st office would require a nominal hardware investment of Rs 35,000, besides the online transfer software and internet dial-up connectivity.  Using the web-based money transfer service, available only for Indian residents, customers can transfer amounts ranging from Rs 1,000-50,000 through designated iMO post offices across the country. While there is no plan to extend the scheme to non-resident Indians, Indiapost is likely to raise the upper limit of Rs 50,000 for corporate account holders.  Transaction volumes on the iMO network in the year-and-a-half period since it was first introduced have crossed Rs 18 crore.