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Weak oil prices may hit remittances from Gulf nations: Crisil

Weak oil prices may hit remittances from Gulf nations: Crisil

Continuing weakness in oil prices may impact remittances from Gulf countries into India, a report by domestic ratings agency Crisil said.

Remittances by overseas Indians fall by 2.9%, first decline since 2009

Remittances by overseas Indians fall by 2.9%, first decline since 2009

For the first time since 2009, remittances by the overseas Indians slowed down bringing worries to external advisers of Reserve Bank of India (RBI) governor Raghuram Rajan abou the monetary policy impact.

Despite $1 billion drop, India retains world's largest remittance recipient country tag in 2015

Despite $1 billion drop, India retains world's largest remittance recipient country tag in 2015

India retained its top spot in 2015, attracting about USD 69 billion in remittances, down from USD 70 billion in 2014, the World Bank said in its annual report 'Migration and Development Brief'.

CBI searches Bank of Baroda branches for Rs 6,100 crore suspected black money transfer

CBI searches Bank of Baroda branches for Rs 6,100 crore suspected black money transfer

CBI on Saturday carried out searches at Bank of Baroda branches here in connection with the alleged Rs 6100 crore black money which was transferred to Hong Kong, in collusion with bank officials.

Firms can remit out salaries of foreigners working in India

The Reserve Bank on Thursday allowed companies to remit overseas the salaries of foreigners working in the country.

Govt forms panel to check trade-based money laundering

To curb the menace of illicit fund flows, the government has set up a high level panel that will look into trade-based money laundering activities which particularly involve manipulation of invoices.

G20 vows to reduce cost of transferring remittances to 5%

India pushed for a reduction in the remittance costs of non-residents at the G20 summit that ended today.

'Indian beneficiaries get Rs 2.3 lakh/year in avg remittances'

Indians beneficiaries receive an average of Rs 2.30 lakh per year in remittances from their family members working abroad in a year and half of them said that the income has improved savings, a report said.

Indian-origin entrepreneur launches unique remittance service 'Xendpay'

A London-based Indian-origin entrepreneur has launched a unique "pay-what-you-want" money remittance service that abolishes compulsory fees.

EPFO settles around 8 lakh claims in Sept

Retirement fund body Employees' Provident Fund Organisation (EPFO) has settled 7,96,759 claims during September in its 123 offices across the country as compared to 7,49,639 in the same month last year.

Remittances could boost rural economies: UN

Remittances "can empower rural people to blaze a trail out of poverty and exclusion," said Kanayo F Nwanze, President of the UN International Fund for Agricultural Development (IFAD).

South Asians rely on informal money transfers: Gallup

Nearly six in ten adults in the South Asian region and Indonesia sent or received a payment or remittance in 2012 with a majority doing so informally, according to a new Gallup study.

India received USD 56 billion in remittances

The top remitting countries in 2009 were United States (USD 48.3 billion), Saudi Arabia (USD 26 billion) and Switzerland (USD 19.6 billion).

Dubai crisis may have some impact on remittances: RBI

The Reserve Bank on Thursday said the
financial crisis in Dubai could have some impact on
remittances and would affect those parts of the country that
receive inflows from the Gulf nation in larger quantity.

Dubai crisis may hit remittances: PMEAC

The Prime Minister`s Economic Advisory Council on Friday said the Dubai crisis would not affect the country`s growth rate, but admitted that remittances from the Gulf city-state may slow down.

Financial crisis not to have much impact on remittances: RBI

Global financial crisis has so far failed to significantly slow down inflow of remittances in India, the Reserve Bank said.