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Indians can invest up to $125,000 overseas annually

Last Updated: Tuesday, June 03, 2014, 14:27

Encouraged by an improvement in the forex market, the Reserve Bank on Tuesday raised the annual overseas investment ceiling for individuals to USD 125,000 from USD 75,000.

Individuals' spending limit abroad may be hiked to $200K

Last Updated: Saturday, May 24, 2014, 21:47

Giving more freedom to individuals travelling abroad, they may soon be allowed to spend USD 2 lakh overseas in a year as against the present ceiling of USD 75,000.

Remittance 'super tax' costs Africa $1.8 billion a year: Report

Last Updated: Wednesday, April 16, 2014, 09:45

Africans are losing USD 1.8 billion (1.3 billion euros) a year due to high fees levied on funds sent from abroad by relatives, Britain`s leading think tank on development said Wednesday.

India leads global remittances with $70 billion in 2013

Last Updated: Saturday, April 12, 2014, 01:42

India lead global remittances in the year 2013 with a whopping USD 70 billion in its kitty, of which USD 65 billion were earned from the country's flagship software services exports, the World Bank reported Friday.

Kerala`s foreign remittance exceed Rs 75,000 cr

Last Updated: Thursday, January 09, 2014, 12:51

Kerala Chief Minister Oommen Chandy on Thursday lauded the contribution of Non-Resident Keralites towards the state`s development and said foreign remittances have exceeded Rs 75,000 crore.

India receives most remittance from Saudi Arabia

Last Updated: Monday, October 28, 2013, 17:41

Saudi Arabia is the second most remittance sending country after the US and is estimated to have sent over USD 27.6 billion of outward remittance in 2012, Saudi Gazette newspaper has reported.

Be alert while processing claims of closed firms: EPFO to staff

Last Updated: Friday, October 18, 2013, 15:34

Worried over instances of fraudulent withdrawal of PF money, the retirement fund body EPFO has directed its field staff to remain vigilant while processing the claims specially with regard to closed firms.

Remittances to help balance capital outflows: World Bank

Last Updated: Thursday, October 03, 2013, 10:03

Remittances to developing countries should swell 6.3 percent this year to USD 414 billion, flowing from workers abroad to their home countries and helping to offset volatile capital outflows, according to World Bank forecasts released on Wednesday.

EPFO wants default on PF remittance under economic offences

Last Updated: Friday, August 02, 2013, 20:50

Retirement fund body EPFO wants defaults on PF remittance by companies to come under economic offences, a top official said on Thursday.

SBI, Xpress Money launch dual-use remittance card

Last Updated: Thursday, July 18, 2013, 15:31

A global money transfer firm has launched a new remittance card in India in partnership with the State Bank of India, which can be used for both receiving remittances from abroad and making withdrawals at ATMs.

Bihar at 5th position in terms of inward remittance

Last Updated: Friday, April 19, 2013, 16:41

Bihar figures at fifth position in the country in terms of receiving foreign remittances, with a total of over Rs 200 crore sent through post offices in the last fiscal.

US-India remittance partnership formed

Last Updated: Tuesday, June 19, 2012, 14:36

A leading US financial services firm, Wells Fargo & Company, has joined hands with India's HDFC Bank to start a US-India remittance service.