Eurogiro money transfer to be launched by Oct

The ‘Eurogiro’ facility for direct remittance of money worldwide through post offices would be launched in the city by October this year, Union IT minister A Raja said here on Sunday.

Preliminary works have been completed and it would be launched in October after testing of the software, he said. “Eurogiro will enable people in India send money to their relatives in any part of the world in just one hour”, he said, after launching three dedicated India Post Freighter aircraft. Eurogiro is a global network of banks and financial institutions.

Raja also said the postal department has approved a proposal to set up new automatic mail processing centres at Delhi and Kolkata at a cost of Rs 65 crore. Similar centres at Chennai and Mumbai would soon get state-of-the-art machines, he said.

These machines would also be installed at 10 other major cities, Raja said. “These modern machines, with a sorting speed of 30,000 mail pieces per hour, will lead to enhanced productivity and faster processing of mails.”

With this launch, India Post now operates three Boeing 737 200 series aircraft, each capable of carrying 13-14 tonne of mails and parcels.

The aircraft are chartered from Air India, which will fly and maintain the aircraft.
The aircraft will converge at Nagpur at 1 AM and after exchanging pallets (mail parcels) would leave an hour later for their respective destinations.