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FAMILY MAINTENANCE REMITTANCES
Mufin Green Finance gets RBI licence to offer forex, remittance servicesMufin Green Finance has recently received an AD-II licence from the RBI, permitting it to offer forex services. This new licence enables th...- Retirement in India vs the US: How parents balance financial security, caregiving, and inheritanceIn the US, parents tend to protect their assets for their own use in retirement, and choose to not spend it disproportionately on their chi...
- Niyo to acquire Capital India’s RemitX forex business for Rs 11.4 croreThe transaction will be undertaken through Kanji Forex, Niyo’s wholly owned subsidiary, and will also bring the RemitX brand and more than ...
- EbixCash World Money's perpetual RBI licence brings trade and family remittances within reach of millionsUnder RBI's revised FEMA framework, EbixCash World Money can now move trade payments up to ₹25 lakh and family maintenance remittances, ope...
- Thanks to Budget, sending money abroad will burn a bigger hole in your pocket soonWith more and more Indian students aspiring to go abroad to pursue their studies, this move may prove to be a big deterrent. For many such ...
- From 'Gone to Gulf' to 'Gone to America', a remittance story unravelsContact-intensive and outdoor-intensive jobs were lost in the Gulf at the height of Corona but in the US, where Indians have IT and white-c...
- Outward remittances pick up pace, rise 34% sequentially since OctoberThough overall remittances are still at one third less than $1.8 billion sent in January of 2020, the pandemic induced lockdown globally ha...
- Spending on overseas travel, education records a 60% surgeTravel industry experts say that Indians are spending more on foreign travel than before.
- India's receipt from trade invisibles at $59 billion in July-SeptemberIndia's receipt from trade invisibles increased marginally to $59.74 billion in July-September quarter of current fiscal.
- Surge in outbound payments hint at expats' bid to escape American tax authoritiesMoney remitted in July to students studying in foreign colleges and universities rose more than six times in one year to $113.9 million.
- Xpress Money to seek RBI nod to enter account credit segmentMoney transfer firm, Xpress Money is planning to move the Reserve Bank for a rupee drawing arrangement licence, a top company official has ...
- Weak rupee: NRIs' relatives back home to get more rupeesWeak Re could end up in higher local currency realisation for households who rely on remittances from family overseas & boost dollar inflow...
- Overseas remittances rise 22% in Apr-Jan: RBIOutflow of money under the RBI’s liberalised remittances scheme was 22% higher than a year ago when it had touched $760 mn.
- Indians remit $930 million abroad in the first 10 months of 2012-13For April-January period, the outward flow of money under RBI’s liberalised remittances scheme was 22% higher than a year ago when it had t...
- Indians remit $1 bn abroad in cash & giftsNRIS have remitted close to $1 bn abroad and one out of every $3 sent abroad is sent as gift.
- Eastern Union: NRIs remit record $14 bn in Q2The global economic slowdown has not deterred Indians living abroad from remitting funds back home. In fact, official figures indicate that...
- Rising dollar pushes inward remittancesIt is not just NRI deposits which are growing. Remittances from Indians working abroad are now on the rise.
- NRIs change tack, opt for direct remittancesIndia is the largest recipient of remittances by its diaspora across the world with annual inflows of over $20 billion for almost four year...
- Diaspora sends more money than beforeNRI remittances during Dec '06 quarter have become the single largest contributor to net forex inflows.
- NRIs park 46% of earnings in bank deposits, realty, stocksOnly a slice of the money sent by the Indian diaspora goes towards maintenance of the family back home.
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