Instant Money Order system at 257 centres in AP circle

Hyderabad,Jun 16: Chief Postmaster General, Andhra Pradesh Circle, K V Sundar Rajan today said Instant Money Order (IMO), launched by India Post for customers to remit large amounts of money within India, was taken up by 257 centres in Andhra Pradesh.Addressing a press conference here, he said the number of IMO centres was growing very fast in the state.He said IMO, which was instant, convenient, reliable, safe and affordable, was a web-based transfer offered by India Post between two individuals within India.Mr Rajan said the money booked through IMO could be disbursed the very next minute with a facility to send a message along with the money.Money Order Videsh (MO Videsh), another facility launched by the India Post, was available in 95 head post offices in Andhra Pradesh.Both inward and outward remittances were possible with this facility and maximum value per transaction was 5000 US Dollars.He said for outward remittances, the minimum amount one could send was 100 US Dollars while the maximum limit was 5000 US dollars at a time and for inward remittances, maximum 12 transactions were allowed in a year, with 2500 US dollars per transaction. He said 95 head post offices in Andhra Pradesh were identified as Point of Presence Service Provider for accepting New Pension Scheme (NPS) of the Government of India.He said the NPS was available to all citizens of India, both resident and non-resident, with effect from May last year to promote old age income security. The Scheme was flexible and the member could prefer pension fund manager and keep changing investment pattern through active choice option. He said the scheme was regulated by Pension Fund Regulatory and Development Authority with transparent investment norms and regular monitoring and performance review of fund manager by NPS trust.
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