Thomas Cook India and Saraswat Co-operative Bank have signed an agreement to provide Thomas Cook's international money transfer services called MoneyGram, to all of the bank's branches.
Saraswat is the largest urban co-operative bank in the country and this tie-up will help its customers avail MoneyGram services, Thomas Cook says in a press release. Saraswat Bank has total business exceeding Rs 22,000 crore with interconnected network of 200 branches spread over Maharashtra, Goa, Karnataka, Madhya Pradesh, Gujarat and Delhi. "Our tie-up with Saraswat Bank has aided our mission to reach our growing network spread over the country," says Madhavan Menon, MD, Thomas Cook India.
MoneyGram now has 22,000 agent locations in India. Its money transfer service is approved by the Reserve Bank of India and has been available in the country for more than eight years. "India represents one of the largest remittance markets in the world and a significant growth opportunity for MoneyGram," says Harsh Lambah, MoneyGram's Regional Director of South Asia.
