remittances Current Affairs, GK & News

World Bank: Recent data on Global Remittance

The World Bank recently released its “Migration and Development Brief”. The report said that the remittance flows to the low-income and middle-income countries were 1.9% lower in 2020 as compared to that of 2019. It was 540 billion USD in 2020 and 548 billion USD in 2019. Key Findings The reduction in remittance inflows were ..

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RBI’s Second Cohort under Regulatory Sandbox

The Reserve Bank of India recently announced the second cohort under Regulatory Sandbox. It was announced under the theme of “Cross Border Payments”. What is Regulatory Sandbox? The Regulatory Sandbox refers to live testing of new products and services in a controlled environment. The companies can test their product viability without the need for a ..

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June 16: International Day of Family Remittances

Every year, the International Day of Family Remittances is observed on June 16 by the United Nations. The day is observed all over the world. This year the day is celebrated under the theme Theme: Remittances are a lifeline Highlights The day is celebrated to recognize the efforts of migrants living abroad and help improve ..

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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 ..

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World Bank’s Migration and Development Brief

As per the report of the World Bank’s Migration and Development Brief, India has retained its position as the world’s top recipient of remittances (money sent back home by its nationals working abroad) in 2018. World Bank Report on Remittances Indian diaspora has sent $79 billion (approximately Rs 5.5 lakh crore) home. The Remittances grew ..

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