Rajeev Chandrasekhar's official website - Member of Parliament

GOVERNMENT OF INDIA

Ministry of Communications and Information Technology

DEPARTMENT OF POSTS

RAJYA SABHA
UNSTARRED QUESTION NO. 2747
TO BE ANSWERED ON 19TH AUGUST, 2010
Global Money Transfer By DOP

 

2747. SHRI RAJEEV CHANDRASEKHAR:

Will the Minister of COMMUNICATIONS AND INFORMATION TECHNOLOGY be pleased to state:

(a)       the details of the remittances and withdrawals by the global money transfer and banking

Operations of the Department of Posts during the last three years;

(b) Whether the Enforcement Directorate (ED) and the Financial Intelligence Unit (FTIJ) have initiated steps to monitor foreign currency remittances and transactions via the Indian postal system, for suspected terror finandn1f"activities;

(c) If so, the details thereof; and

(d) The steps proposed to be taken by Government to equip the Postal Department for such

Sensitive work?

 

ANSWER
THE MINISTER OF STATE IN THE MINISTRY OF COMMUNICATIONS AND INFORMATION TECHNOLOGY
(SHRI GURUDAS KAMAT)

(a) The details of global remittances through International Money Transfer Scheme (IMTS) in tie up with Western Union, International Financial System (IFS) Software and Money Order Videsh (MO Videsh) and domestic banking withdrawals through Post Office Savings Bank (POSB) for the last three years are given in the Annexure.

(b) to (d) Yes, Sir. The Reserve Bank of India has mandated steps to monitor foreign currency transactions in remittances for banks and financial institutions including Indiapost. The role of the Directorate of Enforcement under the Prevention of Money Laundering Act, 2002 (PMLA) is to investigate the cases of the offences of money laundering and prosecute the persons involved in the same. Financial Intelligence Unit (Fill) takes reporting from all institutions regarding suspicious transactions. These instructions are available with all field units of Indiapost. However, no transaction suspected to be financing terror activities through postal channel has been reported so far. FIU also receives reports through Western Union for money remittance relating to Indiapost.

 

Annexure

(A) Details of foreign inward remittance through tie-up with Western Union: (Note: no outwards remittances are offered through this service)

Financial Year

Principal Payout

(In Rs.)

2007-08

51388802494.84

2008-09

74210082514.26

2009-10

65644909278.74

(B) Details of remittances of Electronic International Money Order Service between India and United Arab Emirates' through International Financial System (IFS) Software:

'Financial Year

Number of

transactions

2008-10

619

(C ) Details of remittances through foreign money order services (paper based):

Financial

Number of

Value of

Number of

Value of Money orders in Lac Rs. (Outward)

Year 2011

transactions/

Money Orders

Transactions/

Money Orders

in Lac Rs.

Money orders

 (Inward)

(Inward)

(Outward)

2006

28543

1779.98

3135

61.99

2007

21143

1059.80

3291

65.72

2008

15775

912.73

2860

46.56

(D) Details of remittance through Money Order Videsh (MO Videsh) Service:

(This service offers outward money remittance from India to abroad)

Financial Year

Number of               Amount in INR

Transactions

2007-08

The service was started in October,

2008-09

2009.

2009-10 (up to

154

9,072,550.57

09.08.2010)

(E) Details of savings bank withdrawals (including saving certificates) through post office savings bank (POSB) service

Financial Year

POSB withdrawals (In Rs. Thousands)

2007-08

1389365494

2008-09

1552371226

2009-10

1776529872