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OUTWARD REMITTANCES
Indians remit $2.7 billion overseas in August, led by travelOutward remittances under the Liberalised Remittance Scheme (LRS) stood at $2.7 billion, with travel accounting for the largest chunk. Indi...- Strong macro fundamentals, policy interventions to anchor eco against global headwinds: RBI bulletinStrong macroeconomic fundamentals continue to support the Indian economy against global inflation and trade tensions. Recent geopolitical f...
- Check gate before the horse boltsIndia is facing challenges in managing foreign remittances, particularly concerning fraudulent transactions and proper certification. A pro...
- India’s current account deficit more than doubles to $7 billion in July as trade gap expandsIndia's current account deficit grew to seven billion dollars in July. This widening gap occurred as merchandise imports outpaced exports s...
- Broking firm Upstox offers US stocks, opens access to 8,000+ listed firms, 2,000+ ETFsWith this, Upstox will be joining a segment where players such as Vested Finance and IndMoney already provide Indians access to global equi...
- No tax tangle, FPIs keen to move G-Sec money next dayForeign investors are advocating for expedited remittance processes after the Indian government introduced tax exemptions on bonds. They ar...
- Layoffs at Uber; Astrobase eyes fresh fundraiseUber will cut thousands of jobs in a restructuring move. This and more in today’s ETtech Top 5.
- SBI customer alert: UPI services to remain unavailable for 45 minutes on September 4; check timingsState Bank of India UPI services will be unavailable for a short duration this week. Customers should note the scheduled maintenance period...
- ED raids 12 places across four states in Cyprus-based betting platform Parimatch probeThe search operation is continued by the ED's Mumbai zonal office under section 17 of PMLA, 2002, which grants authorised officers the powe...
- NRI selling inherited property in India? Agricultural land, farmhouse, and plantation property have stricter sale and repatriation rulesNon-Resident Indians (NRIs) hold the right to inherit property in India; however, selling such assets involves navigating a complex set of ...
- Yes Bank, RBL put dollar bond plans on holdYes Bank withdrew its dollar debt plan as investors sought higher yields. RBL Bank also postponed their dollar bond issuances. These lender...
- Outward remittances under LRS up at $2.5 billionIn June, the total outward remittances under the Liberalised Remittance Scheme soared to $2.5 billion. Notably, Indians disbursed $1.3 bill...
- I-T unearths Rs 1.29 lakh cr foreign remittancesThe tax probe has found that a substantial portion of the money moved to a handful of overseas destinations. Singapore, the UAE, Hong Kong,...
- Income Tax Department launches nationwide verification of suspicious foreign remittancesThe Income Tax Department has launched a nationwide verification exercise into suspicious foreign remittances after identifying several ent...
- Outward remittances under LRS flat at $2.36 billionIndians sent $2.36 billion abroad in October under the Liberalised Remittance Scheme. Travel spending was $1.35 billion. Investments in equ...
- Outward remittances down to $2.3 billion in May: RBI BulletinOutward remittances from India reached $2.3 billion in May, according to recent bulletin data. Travel expenses constituted the largest port...
- India sees 16% decrease in outward remittances under LRS in May 2024India's liberalised remittance scheme saw a 16% year-on-year decrease in outward remittances, with a total of $2.42 billion remitted in May...
- LRS outflows fall sharply in October after TCS regime takes effectRemittances down 37% over September; shift to credit-card spending for international travel likely. In October, outward remittances under t...
- Indians send record $344 million in March for maintaining family abroadMoney transferred overseas for maintenance of relatives abroad under the Reserve Bank of India's liberalised remittances scheme or LRS touc...
- Outward remittances of education, travel on the riseOutward remittances during 2008\09 totalled $808 mn of which education and travel together accounted for outgo of $436 mn. 'Stimulation eff...
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