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Bangalore: MO Videsh, a new service launched by India Post will facilitate remittances to foreign countries and also to receive remittances from abroad.
The service is offered through all Head Post Offices in Karnataka Postal Circle, and money can be received or sent to over 65 countries.
Among the salient features of the new service, outward remittances are payable to beneficiaries in cash, by cheque, as well as crediting of the payment into the account of beneficiaries. Inward remittance up to Rs. 50,000 can be received in cash and above Rs. 50,000 will be paid by cheque or credited into account of the payee, the release said and added that each inward remittance should not exceed $ 5,000 at a time.
The outward remittances to a maximum of $1,00,000 a year would be allowed for education, medical and immigration.
For travel, a minimum value of $100 and a maximum of $5,000 per transaction would be allowed subject to a maximum of $10,000 a year per person, a press release said.
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