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Remittance to Kerala to go up by 15% this year

Published: 13th March 2015 06:04 AM  |   Last Updated: 13th March 2015 06:04 AM   |  A+A-

KOCHI:The state of Kerala had witnessed a 46 per cent increase foreign remittance in 2013-14 compared to  2010-11 period. The remittance was over Rs 72,680 crore in last financial year, which will see an increase of 15 per cent in 2014-15, said Sudhesh Giriyan, COO, Xpress Money, which channels 15 per cent of the remittance to the state. “Kerala is one of the largest remittance receiving states in India. According to a survey by the Centre for Development Studies (CDS), the total foreign remittances to Kerala, mainly from those working in Gulf countries, was over Rs 72,680 crore in 2013-14.1 This amount was about 46 per cent higher than the remittance received in 2010-11,” he added. The company will introduce the ‘Cash-to-Account’ service for our customers in Kerala. Using this service, remitters in the UK, Greece, Belgium, Ireland, Romania, Cyprus, Italy, Spain, Denmark, Sweden, France, Malta, Turkey, Germany, the Netherlands, Gibraltar and Norway, he further said. Xpress Money has over 8,000 agent locations in Kerala and the company look forward to further increasing its footprint by 10 per cent in the state by end of 2015. 

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