Tag Archives: Ravi Menon

Making a foray into the money transfer business in India, Cox & Kings Ltd has partnered with UAE Exchange India, to provide inward remittance and domestic money transfer services in the country. This strategic venture will enable Indians living abroad to conveniently remit funds to their families in India, and also benefit foreign tourists visiting India. This association will expand the current network of collection centres and reach out to a broad category of consumers across the country. Cox & Kings has identified select locations within India, from where the customers can avail this service. There are no charges applicable to the recipient in India. Besides foreign inward money, domestic money transfer services will also be available at the designated Cox & Kings’ outlets through this process. Ravi Menon, Head—Foreign Exchange, Cox & Kings Ltd. said, “The strategic partnership will help us enter the money transfer business in India which is the largest recipient of remittance in the world. People who are expecting money from their relatives or friends abroad can now use our wide network of branches across India.” The facility of inward remittance will provide a convenient and quick mechanism for Indians working abroad to send money to their families in India and also benefit foreign tourists visiting India. The money will be received in minutes and all that the recipient has to do is visit one of the designated locations to collect their money.

Cox & Kings opened its first dedicated foreign exchange branch at Panjim in Goa. The branch designed as a one-stop-shop for all foreign exchange requirements was inaugurated by Ravi Menon, Head, Foreign Exchange, Cox & Kings. The flagship store located at Magnum Centre, First Floor, Shop 20, MG Road, Panjim will offer a slew of products – buying and selling of all frequently traded foreign currencies, sell pre-paid cards, enable Money Transfer business where tourists can receive money from overseas, as well as provide domestic money transfer facilities.  Students who desire to travel overseas from Goa for further studies can avail Foreign Currency Draft and Outward Remittance facilities through this outlet. According to Menon, “Goa is a key market as it receives a large number of foreign tourists. Our bouquet of foreign exchange products and services are designed to cater to this segment. Our branch will cater to all the requirements which are allowed under Authorised Dealer CAT II activities.” It has been observed that foreign tourists need help to exchange and exhaust their money when on their holiday. Cox & Kings will cater to both these needs, where these guests can exchange their money as well as use the money transfer facility to receive money from overseas. In case foreign tourists need help with their domestic holiday they can approach this branch, which in turn will refer them to the nearest Cox & Kings store. According to data released by the department of tourism, government of Goa, in 2015, Goa received 5.40 lakh international tourists, an increase of 5 percent over 2014. This year the state is expected to attract even more tourists especially from traditional markets such as …