remittances: GK, Current Affairs, Questions, Trivia and News

2019 edition of International Day of Family Remittances (IDFR)

The International Day of Family Remittances (IDFR) is observed every year on 16th of June to recognize the contribution of over 200 million migrants to improve the lives of their 800 million family members back home, and to create a future of hope for their children. Through this observance, the United Nations aim at bringing ..

India highest recipient of remittances in 2018

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), ..

India becomes largest remittance-receiving country in world in 2017

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 ..

India highest recipient of remittances in 2017

As per World Bank (WB)’s latest report “Migration and Development Brief”, India is the highest recipient of remittances globally in 2017 with $69 billion, followed by China ($64 billion), the Philippines ($33 billion), Mexico ($31 billion), Nigeria ($22 billion), and Egypt ($20 billion). In its report, the World Bank estimated that officially recorded remittances to ..

What is a Current Account?

Current Account is an important indicator of the economic health of a nation. It keeps a record of the transactions of the nation with the rest of the world i.e. the net of trade in goods and services, net transfer payments and also net earnings on cross-border investments over a span of a year. It ..