WHAT IS REMITTANCE?
Remittance
Remittance is derived from the word 'remit' which means 'to send back'. Remittance refers to money that is sent or transferred to another party, usually overseas. Remittances can be sent via a wire transfer, electronic payment system, mail, draft, or cheque.
Remittances can be used for any type of payment including invoices for business purposes or other obligations like personal transfers made to family and friends.
LATEST UPDATES ON REMITTANCE
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Asia-Pacific may see up to $54.3-bn remittance loss due to Covid-19: ADB
The ADB said that employment in host economies of Asian migrants is contracting significantly| August 09, 2020, Sunday -
India world's largest remittance recipient in 2015: World Bank
It retained its top spot in 2015, attracting about $69 billion in remittances, down from $70 billion in 2014| April 14, 2016, Thursday
