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Barclays launches mobile-based remittances service

Last Updated: Sunday, August 10, 2014, 19:57

To tap into growing remittances between England and India, British lender Barclays has launched a special mobile payment service between the two nations, which allows even non-Barclays customers to transfer money with ease.

RBI eases norms to buy immovable property abroad

Last Updated: Thursday, July 17, 2014, 21:27

Reserve Bank today said individuals can also use funds under Liberalised Remittances Scheme (LRS) to buy immovable property abroad.

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.

RBI allows utility bills, tax payments under inward remittance

Last Updated: Thursday, January 09, 2014, 21:33

Reserve Bank today allowed payments to utility service providers, tax payments, and EMI payments in India with a view to expand the scope of cross-border inward remittances.

EPFO settles around 8 lakh claims in Sept

Last Updated: Friday, October 18, 2013, 19:57

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.

India tops global chart of remittances

Last Updated: Wednesday, October 02, 2013, 23:37

India has topped the global chart of remittances with a whopping USD 71 billion in remittances in 2013, just short of three times the FDI it received in 2012, according to a revised World Bank forecast issued on Wednesday.

Remittances could boost rural economies: UN

Last Updated: Saturday, June 29, 2013, 23:56

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).

FinMin verifying outward remittances made in 2011-12 fiscal

Last Updated: Friday, June 14, 2013, 19:35

For 2011-12, there were 7,56,741 foreign remittances made from India with money worth Rs 3,56,461 crore going out of India, he added.

South Asians rely on informal money transfers: Gallup

Last Updated: Saturday, May 25, 2013, 11:40

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 tops global remittances list; received $69 bn in 2012

Last Updated: Saturday, April 20, 2013, 12:10

India is the largest recipient of remittances in the world, receiving USD 69 billion in 2012, the World Bank has said.

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.

India received $70 billion in remittances in 2012

Last Updated: Thursday, March 14, 2013, 14:02

India received USD 70 billion in remittances in the year 2012, Government told Rajya Sabha on Thursday.