Emirates Post and India Post money-transfer alliance

A new agreement between the UAE and Indian postal organisations will allow money transfers to any point in either via the other's postal network. The arrangement stipulates that each money order will not exceed $2,500 or 9,183 dirham and of that amount, 4,671 dirham or Rs. 50,000 will be payable in cash and the remainder by cheque. Additionally, no more than 12 transfers to the same beneficiary will be allowed in a calendar year. The scheme is powered by Universal Postal Union, a global postal system and has the potential to open up a large revenue source for the posts, since it will reach out to the rural unbanked.