Cox & Kings to enter money transfer biz in India

Travel services provider Cox & Kings has partnered with financial services firm UAE Exchange India to foray into the money transfer business in India.
This venture will enable Indians living abroad to remit funds to their families in India, with easy and flexible transfer options, Cox & Kings said in a statement.
Commenting on the development, Cox & Kings Foreign Exchange-Head Ravi Menon said: "The strategic partnership will help us enter the money transfer business in India which is the largest recipient of remittance in the world."
This association will expand the current network of collection centres and reach out to a broad category of consumers across the country. The company has identified select locations within India, from where the customers can avail this service, Cox & Kings said.

"The strategic partnership with Cox & Kings will cater the rising demands of inward and domestic remittance through the swift and secure money transfer services," UAE Exchange Managing Director V George Antony said.
Shares of Cox & Kings were trading 1.20 per cent down at Rs 222.50 per scrip on BSE.