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Remittances News

10 May 2024

Thomas Cook Launches Digital Service TCPay For International Money Transfers

Thomas Cook India's TC Pay is a user-friendly digital interface that allows for 24x7 remittances facility.

Remittances From Gulf

17 Jul 2022

Huge drop in remittances from Gulf countries in FY21 due to Covid-19

RBI said the views expressed in the article are those of the authors and do not represent its views. The decline in remittances from the Gulf countries during 2020-21 reflects a slower pace of migration.

08 Dec 2018

India to retain top position in remittances with $80 billion: World Bank

Over the last three years, India has registered a significant flow of remittances from USD 62.7 billion in 2016 to USD 65.3 billion 2017.

15 Jun 2017

India retains top spot as world's largest remittance recipient country in 2016, receives $62.7 billion: UN report

The study said India was the top receiving country for remittances in 2016 at USD 62.7 billion, followed by China (USD 61 billion), the Philippines (USD 30 billion) and Pakistan (USD 20 billion).

23 Mar 2017

India receives $235 billion in remittances in last 3.5 years

India received a whopping USD 235 billion in remittances in the last three-and-a-half years, as per government data.

22 May 2016

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.

06 May 2016

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.

World's largest recipient of remittances

14 Apr 2016

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'.

10 Oct 2015

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.

22 Jan 2015

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.

money laundering

04 Dec 2014

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.

16 Nov 2014

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.

14 Nov 2014

'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.

Money remittance service

05 Nov 2014

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.

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