Page 4 - Remittances
India to receive record remittances but experts worry CAD will still widen
Of $90 billion remittances that India is expected to receive in 2022, only $27.4 billion has come in the first half of the year
 "India to receive record remittances but experts worry CAD will still widen")
Pakistan's remittances declined 4.8% in November, says central bank
State Bank of Pakistan says remittances sent by overseas Pakistani workers decreased 4.8% in November on a month-on-month basis
 "Pakistan's remittances declined 4.8% in November, says central bank")
Remittance inflows in India to top $100 billion in 2022: World Bank brief
Remittance inflow pattern in India has undergone a structural shift from gulf countries to high-income countries in the past few years
 "Remittance inflows in India to top $100 billion in 2022: World Bank brief")
In 2022, world-topping $100 billion in remittances have come to India
Remittance flows to India will rise 12 per cent to reach $100 billion this year, according to a World Bank report published on Wednesday
Remittances up 5% in 2022, but growth to slow to 2% next year: World Bank
Remittances are a vital source of household income for people in low- and middle-income countries, helping to alleviate poverty and building resilience
 "Remittances up 5% in 2022, but growth to slow to 2% next year: World Bank")
Outward remittances under liberalised remittance scheme jump 50% in H1
During the second quarter of FY23, remittances stood at $7.3 billion, compared to $5.2 billion a year ago
 "Outward remittances under liberalised remittance scheme jump 50% in H1")
Digital rupee likely to bring down cost of cross-border payments
The introduction of CBDC for cross-border remittances can bring down costs substantially
 "Digital rupee likely to bring down cost of cross-border payments")
US' return as leading source of Indian remittances mirrors pre-2008 trend
North America had a high share of remittances before the global financial crisis
 "US' return as leading source of Indian remittances mirrors pre-2008 trend")
TMS Ep218: Remittance to India, over-tourism, markets, mobile security
What's the significance of the US remittances to India? Why over-tourism may spell trouble for tourist spots? Why are Infosys and Wipro staring at modest Q1 revenues? What's Apple's Lockdown Mode?
 "TMS Ep218: Remittance to India, over-tourism, markets, mobile security")
Remittances from West Asia hit in FY21 due to Covid-19 pandemic
According to an RBI survey, Indians in advanced nations, like the US & UK, emerged important sources of money
 "Remittances from West Asia hit in FY21 due to Covid-19 pandemic")
Overseas remittances almost double year on year to $2 billion in April
Travel, relative care top the chart, with the former coming back to pre-Covid levels
Money sent abroad for travel grew threefold in February: RBI data
Reserve Bank of India (RBI) data showed in FY21, Indians spent about $3.23 billion for travel, sharply down from $6.95 billion in FY20.
Global remittances to rebound as economies recover from Covid impact: ADB
Growth in the money repatriated by migrant workers will slow to 4.2% in 2022 as base effects fade
 "Global remittances to rebound as economies recover from Covid impact: ADB")
India received $87 billion in remittances in 2021: World Bank
India, the world's largest recipient of remittances, received $87 billion in 2021 with the United States being the biggest source, accounting for over 20% of these funds
India received $87 bn in remittances in 2021; US biggest source of funding
India received $87 billion in remittances in 2021, and the United State was the biggest source
 "India received $87 bn in remittances in 2021; US biggest source of funding")
Remittances to Nepal: RBI hikes per transaction cap to Rs 2L from Rs 50,000
Reserve Bank on Friday hiked the ceiling on remittances per transaction from India to Nepal to Rs 2 lakh from Rs 50,000
 "Remittances to Nepal: RBI hikes per transaction cap to Rs 2L from Rs 50,000")
US won't ease ban on remittances to Cuba amid unrest over economy: Biden
US President Joe Biden said his administration will not ease restrictions on remittances sent from US residents to relatives in Cuba because Cuban government will likely confiscate the money
 "US won't ease ban on remittances to Cuba amid unrest over economy: Biden")
Globalisation, old and new: What changing world order means for India
Globalisation is morphing as new agendas come into focus. These now drive action on climate change, taxation of global companies, tackling terrorism, sharing vaccines and the like, writes T N Ninan
Kerala hit hard by drop in remittances as 1.2 mn workers return: World Bank
Kerala has been hit hard by the drop in remittances from the Gulf countries from where about 1.2 million workers returned to the state due to the Covid-driven layoffs, according to the World Bank
 "Kerala hit hard by drop in remittances as 1.2 mn workers return: World Bank")
India received $83 billion in remittances in 2020: World Bank report
India received over $83 billion in remittances in 2020, a drop of just 0.2 per cent from the previous year, despite a pandemic that devastated the world economy, according to a World Bank report
 "India received $83 billion in remittances in 2020: World Bank report")