Remittances

Niyo Forex enters Chennai to tap Tamil Nadu's outbound travel demand surge

Niyo Forex launches Chennai branch as part of its expansion plan, targeting Tamil Nadu's outbound travel and remittance demand with a phygital model and wider service network

Foreign property purchase: Remit own, tax-paid funds via authorised banks

Disclose the property every year under Schedule FA of your income-tax return

Outward remittances under RBI's LRS decline 3.19% in January 2026

Outward remittances under RBI's LRS declined 3.19 per cent to $2.68 billion in January 2026, with lower education and deposit outflows partly offset by rising overseas investments

NRI deposit flows fall 25.86% to $10.61 bn in April-January: RBI data

NRI deposit inflows declined 25.86 per cent to $10.61 billion in April-January 2026, mainly due to a sharp fall in FCNR deposits, even as NRE and NRO inflows rose

Remittances from West Asia see 20-30% jump in March due to conflict

Remittances from West Asia to India rise 20-30% in March as diaspora sends more money amid conflict and a weaker rupee, though bankers warn gains may be temporary

9 mn Indians live in Persian Gulf. The Money they send home is a lifeline

A huge number of Indians split their lives across the Arabian Sea, remitting $125 billion a year, supporting their families and the Indian economy

Rich Insights from Grant Thornton’s tax expert

In this session, Richa Sawhney, Partner – Tax, Grant Thornton Bharat talks about the new tax rules, business implications and gives tips to students aspiring to be in tax advisory roles

Budget 2026: TCS cut on LRS education, medical spends to boost remittances

Lowering TCS on overseas education and medical remittances under LRS to 2% is expected to ease cross-border transactions and bring predictability for families managing large foreign expenses

Datanomics: Remitting money to India from US now becomes costlier

Sending money from the US to India has become costlier after a 1% excise tax on cash-based remittances took effect from January 1, 2026

RBI proposes to cap banks' dividend payout at 75% of net profit

The RBI undertook a review of the existing prudential norms governing the declaration of dividends and remittance of profits, including those applicable to foreign banks operating in branch mode

US remittance tax comes into effect today: How will it impact Indians?

The 1 per cent remittance tax will apply to transfers made using cash, money orders or cashier's checks, affecting many NRIs in the US who send money abroad through physical payment modes

India's trade crossroads: Navigating global headwinds, building resilience

The challenge is not reversal but recalibration: India must redesign its external strategy even as domestic engines stay strong

UPI-UPU integration launched in Dubai to speed up cross-border remittances

Union Minister for Communication Jyotiraditya M Scindia on Monday unveiled the UPIUPU Integration project here, described as a landmark initiative aimed at transforming cross-border remittances for millions worldwide. The initiative was launched at the 28th Universal Postal Congress. Developed by the Department of Posts (DoP), NPCI International Payments Limited (NIPL), and the Universal Postal Union (UPU), it integrates India's Unified Payments Interface (UPI) with the UPU Interconnection Platform (IP), combining the reach of the postal network with the speed and affordability of UPI. Addressing the event, Scindia called it more than a technology launch, but a social compact. The reliability of the postal network combined with the speed of UPI means families across borders can send money faster, safer and at much lower cost. It reaffirms that public infrastructure built for citizens can be linked across borders to serve humanity better, he said. He outlined India's vision for a .

Outward remittances under LRS stay flat at $6.9 billion in Q1 FY26

According to RBI data, the amount remitted under LRS was up 0.5 per cent year-on-year (Y-o-Y) from $6.88 billion recorded in Q1 FY25

LRS remittances rise 8.6% in April 2025 on travel, investment boost

April 2025 outward remittances under the RBI's LRS rose 8.6 per cent YoY to $2.5 billion, but full-year outflows fell by 6.85 per cent amid global uncertainty and high base

US remittance tax to revive hawala, hand cartels a financial lifeline

The remittance tax risks reviving hawala networks, making it easier to fund drug and human smuggling, as criminal syndicates step in to exploit informal money transfer systems once again

'US remittance tax, tariffs to cost India billions in lost investments'

The original version of US President Donald Trump's "One Big Beautiful Bill" included a 5 per cent excise duty on outward remittances

Outward remittances under LRS fall 6.85% to $29.56 billion in FY25

RBI data shows LRS outflows dropped to $29.56 billion in FY25 due to weak income growth, rupee depreciation, and lower transfers for education and close relatives

Datanomics: Remittance tax in Donald Trump's 'Big, Beautiful Bill'

A provision in Trump's new 'Beautiful Bill' suggests a 5% excise tax on all outward remittances by non-US citizens, raising the cost of transfers to countries like India

US remittance tax plan could impact Indian households, rupee: GTRI

A proposed 5 per cent US tax on remittances sent abroad by non-citizens is raising alarm in India as it may hit Indian households and the rupee, economic think tank GTRI said on Sunday. The provision is part of a broader legislative package titled 'The One Big Beautiful Bill' introduced in the US House of Representatives on May 12. It targets international money transfers made by non-US citizens, including green card holders and temporary visa workers like those on H-1B or H-2A visas. The proposed levy will not be applicable to US citizens. "The proposed US tax on remittances sent abroad by non-citizens is raising alarm in India, which stands to lose billions in annual foreign currency inflows if the plan becomes law," the Global Trade Research Initiative (GTRI) said. For India, the stakes are high as the country received USD 120 billion in remittances in 2023-24, with nearly 28 per cent originating from the US, it added. "A 5 per cent tax could significantly raise the cost of sen