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Thomas Cook India opens a new Foreign Exchange outlet at Sri Ganganagar, Rajasthan

Posted On: 2018-07-11 12:40:22

Thomas Cook (India) Ltd., India's leading integrated travel and travel related financial services company, has identified the state of Rajasthan as a significant growth market for its Foreign Exchange business and to leverage this opportunity, has opened a new outlet at Sri Ganganagar. The outlet was inaugurated by Mr. Shridatt Sharma - Deputy General Manager, Oriental Bank of Commerce, Sri Ganganagar; in the presence of Thomas Cook India's Associate Vice Presidents - Mr. Ambreesh Rastogi and Mr. Akul Kumar.

Thomas Cook's internal data highlights that Rajasthan has witnessed strong growth in demand of 20% YoY. Additionally, with Thomas Cook India's research reiterating the significant and growing potential of India's Tier II & III markets, Sri Ganganagar, Rajasthan was selected as a viable location for its Foreign Exchange business.

The new outlet at Sri Ganganagar augments Thomas Cook India's Foreign Exchange distribution and reach for Rajasthan to a total of 4 outlets and extends its network in North India to a total of 36 Foreign Exchange outlets.

The consumer empowering Foreign Exchange Product-Service portfolio available at the new branch includes:

Prepaid Travel Cards

- Multi-currency Borderless Prepaid Card in partnership with MasterCard - with 8 global currencies
- Thomas Cook One Currency Card - India's first prepaid card with Zero cross currency conversion fees

Easy ways to Book for Rajasthan's rapidly evolving on-the-move consumer

- Forex App; Online Forex; Forex on Mobile.

Education Forex for Rajasthan's overseas student segment with discounted air fares, excess baggage, insurance and foreign exchange products

Remittances (both Inward and Outward); its "Send Money Abroad" covering over 120 countries

Mr. Deepesh Varma, Head of Sales & Relationship Management- Foreign Exchange, Thomas Cook (India) Ltd., said, Rajasthan has been identified as a key source market and is a strong growth driver that continues to deliver over 20% YoY for our Foreign Exchange business. We have hence selected the prime location of Sri Ganganagar for our new outlet; its viable catchment of consumers (across families, young professionals and business travellers) offers us significant opportunity."

He added, "Our new outlet at Sukharia Circle, Sri Ganganagar gives our consumers convenient access to a range of foreign exchange products and services. Innovative products like our Borderless Prepaidcard, the One Currency Card & our Forex mobile app are of great value to - Rajasthan's tech savvy travellers and we are confident of seeing strong uptake."

Shares of THOMAS COOK (INDIA) LTD. was last trading in BSE at Rs.274.1 as compared to the previous close of Rs. 273.5. The total number of shares traded during the day was 10480 in over 180 trades.

The stock hit an intraday high of Rs. 276.05 and intraday low of 273.45. The net turnover during the day was Rs. 2875792.


Source: Equity Bulls

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