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India’s diaspora is the largest at around 19 million, with significant numbers of international immigrants living in UAE, US and Saudi Arabia. With this backing, India continued as the top country receiving remittances, but 2024 was spectacular with inflows of $138 billion. The country also emerges as one of the biggest source countries for student…
MUMBAI: Outward remittances by resident Indians under the Liberalised Remittance Scheme fell in Nov 2025 to a two-year low partly because of a dip in education-related travel and also because of seasonality.Total outflows slipped to $1,937.2 million from $2,364.5 million in Oct, an ~18% sequential drop, and edged below $1,946.4 million in Nov 2024. The…
The Reserve Bank of India (RBI) on Friday said the process of interlinking the Unified Payments Interface (UPI) with the Eurosystem’s TARGET Instant Payment Settlement (TIPS) platform has entered the realisation phase, marking a step towards enabling cross-border instant payments between India and Europe. RBI and NPCI International Payments Limited (NIPL) have been in discussions…
MUMBAI: The impact of restrictions on H-1B visas by the United States on remittances by overseas Indians would be within $5bn, according to a Barclays research report. The report also said that the rising trend of global capability centers (GCCs), which includes many US-headquartered firms, is here to stay and would strengthen further amid this…
