Remittance
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How Trump's 'Big, Beautiful Bill' Impacts Funds Transferred To India
In Donald Trump's "One Big Beautiful Bill," recently pushed through the House of Representatives, lies a provision that could change global remittance flows, and India, the world's leading recipient of remittances, could be impacted the most.
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USDC-Issuer Circle Plans Payment Network to Process Transactions via Stablecoins
With the CPN, Circle aims to offer a cross-border payment solution that is cost effective, swift, compliant, and transparent. It could be of help to global suppliers, small merchants, content creators, and remittance recipients. Â Â
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Government Exempts TCS For Remittances For Education Purposes
Education Budget 2025: The Government has also increased threshold to collect TCS on remittances under Liberalised Remittance Scheme
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Remittances To India As Much As Pakistan, Bangladesh Budgets Combined: 5 Facts
India has, for years, been the country receiving highest remittances globally, and this year was no different. India retained the number one spot of being the country which saw the maximum amount of monetary inflow - $129 billion - from its diaspora.
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2 Brothers In Delhi Arrested In Rs 4,800-Crore Money Laundering Case
The ED on Wednesday said it arrested two Delhi-based importer brothers in a money-laundering case linked to alleged illegal foreign remittances worth more than Rs 4,800 crore made to Hong Kong and China.
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RBI Governor Highlights Need for Faster Remittance Settlements Amid Advancing eRupee Trials
Speaking about the eRupee CBDC, RBI Governer Shaktikanta Das emphasised that it plays a key role in India's "world-class digital public infrastructure" (DPI), which has enabled the creation of various digital financial products. He highlighted that developing protocols like the eRupee is essential for enabling real-time, cost-effective cross-border...
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Bolivia Reverses Bitcoin Ban, Legalises Crypto Transactions for Banks
Bolivia is aiming to balance its economy, which is presently far from being in a state of flourish. While no cryptocurrency is being seen as a legal tender in Bolivia yet, allowing crypto transactions could fetch the nation more in remittances since cross border crypto transactions are instant and almost free.
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India Received $120 Billion In Remittances In 2023: World Bank Report
India received $120 billion in remittances in 2023, almost twice the $66 billion received by Mexico in the same period, the World Bank said in a report released on Wednesday.
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India Got Over $111 Billion In Remittances In 2022 - A World Record: UN
India received over USD 111 billion in remittances in 2022, setting a world record for getting the largest remittances ever recorded, becoming the first country to surpass the USD 100 billion mark, the United Nations migration agency has said.
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India Becomes 1st Country To Receive Over $100 Billion In Remittances: UN
India received over USD 111 billion in remittances in 2022, the largest in the world, becoming the first country to reach and even surpass the USD 100 billion mark, the United Nations migration agency has said.
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Cash-Strapped Pakistan Lost Over $8 Billion In Remittances, Exports In FY23: Report
Due to a lack of attention to these two big inflows, Pakistan lost considerably more than it received from IMF borrowings and inflows from other sources.
-
Foreign-Registered Online Game Portals Sent Rs 4,000 Crore Abroad, Raided By ED
The Enforcement Directorate (ED) on Wednesday said it detected illegal foreign remittances of about Rs 4,000 crore after it carried out multi-state raids against foreign-registered online gaming websites and companies.
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Ministry's Clarification On Tax On Overseas Spending Through Credit Cards
The government on Friday said no TCS will be levied on international spending of up to Rs 7 lakh a year by using debit or credit cards.
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Explained: Finance Ministry's FAQs On Remittance Scheme
The Finance Ministry has published an FAQ on its announcement that international credit card payments will come under the RBI's liberalised remittance scheme, or LRS.
-
Bitcoin Usage in El Salvador Down from Last Year, Crypto Remittances Drop by 18 Percent
Data from the Salvadoran Central Reserve Bank (BCR) has revealed that BTC-based remittances have slipped by 17.8 percent around January and February this year. In the first two month of 2022, El Salvador had bagged $19.45 million (roughly Rs. 160 crore) in remittances received as Bitcoin tokens. Whereas this year, during the same months, the amount...
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How Trump's 'Big, Beautiful Bill' Impacts Funds Transferred To India
In Donald Trump's "One Big Beautiful Bill," recently pushed through the House of Representatives, lies a provision that could change global remittance flows, and India, the world's leading recipient of remittances, could be impacted the most.
-
USDC-Issuer Circle Plans Payment Network to Process Transactions via Stablecoins
With the CPN, Circle aims to offer a cross-border payment solution that is cost effective, swift, compliant, and transparent. It could be of help to global suppliers, small merchants, content creators, and remittance recipients. Â Â
-
Government Exempts TCS For Remittances For Education Purposes
Education Budget 2025: The Government has also increased threshold to collect TCS on remittances under Liberalised Remittance Scheme
-
Remittances To India As Much As Pakistan, Bangladesh Budgets Combined: 5 Facts
India has, for years, been the country receiving highest remittances globally, and this year was no different. India retained the number one spot of being the country which saw the maximum amount of monetary inflow - $129 billion - from its diaspora.
-
2 Brothers In Delhi Arrested In Rs 4,800-Crore Money Laundering Case
The ED on Wednesday said it arrested two Delhi-based importer brothers in a money-laundering case linked to alleged illegal foreign remittances worth more than Rs 4,800 crore made to Hong Kong and China.
-
RBI Governor Highlights Need for Faster Remittance Settlements Amid Advancing eRupee Trials
Speaking about the eRupee CBDC, RBI Governer Shaktikanta Das emphasised that it plays a key role in India's "world-class digital public infrastructure" (DPI), which has enabled the creation of various digital financial products. He highlighted that developing protocols like the eRupee is essential for enabling real-time, cost-effective cross-border...
-
Bolivia Reverses Bitcoin Ban, Legalises Crypto Transactions for Banks
Bolivia is aiming to balance its economy, which is presently far from being in a state of flourish. While no cryptocurrency is being seen as a legal tender in Bolivia yet, allowing crypto transactions could fetch the nation more in remittances since cross border crypto transactions are instant and almost free.
-
India Received $120 Billion In Remittances In 2023: World Bank Report
India received $120 billion in remittances in 2023, almost twice the $66 billion received by Mexico in the same period, the World Bank said in a report released on Wednesday.
-
India Got Over $111 Billion In Remittances In 2022 - A World Record: UN
India received over USD 111 billion in remittances in 2022, setting a world record for getting the largest remittances ever recorded, becoming the first country to surpass the USD 100 billion mark, the United Nations migration agency has said.
-
India Becomes 1st Country To Receive Over $100 Billion In Remittances: UN
India received over USD 111 billion in remittances in 2022, the largest in the world, becoming the first country to reach and even surpass the USD 100 billion mark, the United Nations migration agency has said.
-
Cash-Strapped Pakistan Lost Over $8 Billion In Remittances, Exports In FY23: Report
Due to a lack of attention to these two big inflows, Pakistan lost considerably more than it received from IMF borrowings and inflows from other sources.
-
Foreign-Registered Online Game Portals Sent Rs 4,000 Crore Abroad, Raided By ED
The Enforcement Directorate (ED) on Wednesday said it detected illegal foreign remittances of about Rs 4,000 crore after it carried out multi-state raids against foreign-registered online gaming websites and companies.
-
Ministry's Clarification On Tax On Overseas Spending Through Credit Cards
The government on Friday said no TCS will be levied on international spending of up to Rs 7 lakh a year by using debit or credit cards.
-
Explained: Finance Ministry's FAQs On Remittance Scheme
The Finance Ministry has published an FAQ on its announcement that international credit card payments will come under the RBI's liberalised remittance scheme, or LRS.
-
Bitcoin Usage in El Salvador Down from Last Year, Crypto Remittances Drop by 18 Percent
Data from the Salvadoran Central Reserve Bank (BCR) has revealed that BTC-based remittances have slipped by 17.8 percent around January and February this year. In the first two month of 2022, El Salvador had bagged $19.45 million (roughly Rs. 160 crore) in remittances received as Bitcoin tokens. Whereas this year, during the same months, the amount...
