Page-3 of remittances Current Affairs, GK & News

India highest recipient of Remittances in 2017: World Bank

According to recently released Migration and Development Brief by World Bank, India has retained top position as recipient of remittances with about $69 billion in 2017. India was followed by China ($64 billion), Philippines ($33 billion), Mexico ($31 billion), Nigeria ($22 billion) and Egypt ($20 billion). Key Highlights of Migration and Development Brief Global remittances: ..

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RBI tightens reporting norms for Liberalised Remittance Scheme

The Reserve Bank of India (RBI) has tightened reporting norms for the Liberalised Remittance Scheme (LRS) under which individual can transfer up to US $2,50,000 abroad in a year. The purpose of tightening of norms is to improve monitoring and also to ensure compliance with LRS limits. Key Facts Currently, the LRS transactions are permitted ..

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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 ..

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India world's largest remittance recipient in 2015: World Bank

As per recently report of World Bank, India remained the world’s largest remittance recipient in 2015. It was revealed by the World Bank’s annual report Migration and Development Brief. In 2015, India attracted about 69 billion US dollars in remittances, down from 70 billion in 2014 Key Highlights of Report Other large remittance recipients in ..

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