Page-2 of Remittance Current Affairs, GK & News
The World Bank (WB) has recently released its latest edition of Migration and Development Brief. In it, India has retained its position as the world’s top recipient of remittances with its diaspora sending a whopping $79 billion back home in 2018. India was followed by China ($67 billion), Mexico ($36 billion), the Philippines ($34 billion), ..
The central banks of the UAE and Saudi Arabia have launched a common digital currency called “Aber”, which will be used in financial settlements between the two countries through Blockchains and Distributed Ledgers technologies. It will establish an additional means for the central financial transfer systems of the two countries and enable banks to directly ..
Topics: Arabian Peninsula • Blockchain • Central bank • Countries • Geography • Member states of OPEC • Member states of the Arab League • Member states of the Cooperation Council for the Arab States of the Gulf • Middle Eastern countries • Remittance • Saudi Arabian Monetary Authority • Western Asia
India is expected to retain its position as world’s top recipient of remittances with $80 million in 2018
India is expected to retain its position as the world’s top recipient of remittances with $80 million in 2018, as per latest World Bank’s report ‘Migration and Development Brief’. India is followed by China ($67 billion), Mexico and the Philippines ($34 billion each) and Egypt ($26 billion). The bank estimates that officially recorded remittances to ..
According to World Bank’s Migration and Development Brief, India will retain its position as world’s top recipient of remittances in 2018, receiving a total remittance of $80 billion from its diaspora. India is followed by China ($67 billion), Mexico and hilippines ($34 billion each) and Egypt ($26 billion). Remittance: It is transfer of money by ..
Category: International / World Current Affairs
RBI tightens norms for LRS by making quoting of Permanent Account Number (PAN) mandatory even for transactions below $25,000
On June 19, the Reserve Bank of India (RBI) has tightened norms for Liberalised Remittance Scheme (LRS) by making quoting of the Permanent Account Number (PAN) mandatory even for transactions below $25,000. Under the LRS, all resident individuals, including minors, are allowed to freely remit up to 2,50,000 US dollar per financial year for any ..
Category: Government Schemes Current Affairs
According to the report ‘RemitSCOPE – Remittance markets and opportunities – Asia and the Pacific’, India has become the largest remittance-receiving country in the world in 2017, with migrant workers from the country sending home 69 billion US dollars. The remittances to the Asia-Pacific region amounted to 256 billion dollars last year. In 2017, India ..