Latest News and Information from India

  • PM Narendra Modi Seeks G20 Deadline to Lower Cost of Remittances

    17 November 2015

    Prime Minister Narendra Modi today sought a definite timeline before 2030 for reduction in cost of transferring money, a move that will help India as it is the world's largest recipient of remittances. "Remittances are a key source of income for households and support for the economy in developing ... Read more ›

  • What to expect from small finance banks

    22 September 2015

    Customised products, more competition in remittance, and further spread of financial instruments expected On 16 September, the Reserve Bank of India (RBI) gave in-principle approval to 10 entities to set up small finance banks. The central bank has given them 18 months to comply with the requiremen... Read more ›

  • Like manna from heaven

    08 September 2015

    How a torrent of money from workers abroad reshapes an economy “GULF house”, says Dinesh Kumar every few seconds, gesturing out of the window of a car as it drives through Vennicode, in south-west India. His commentary is hardly necessary. The new houses, built with money sent home by people wo... Read more ›

  • Rupee slide a pain for authorities but brings cheers to NRIs

    27 August 2015

    A weakening rupee may have kept the authorities on their toes, but non-resident Indians have been sending more funds home, happily getting more rupees from their dollar conversions. In the past two weeks, the rupee lost close to 4% to the greenback till Monday, hitting a fresh two-year low. But Ind... Read more ›

  • Indian rupee crashes to 2-year low; should you remit now?

    14 August 2015

    Chinese yuan sneezes, Indian rupee catches a cold, sinks to Rs17.68 vs Dh1 The Indian rupee crashed to a 23-month low yesterday on news that the Chinese yuan had been devalued for a second time in as many days. China yesterday allowed the yuan to fall sharply for a second straight day, sparking fe... Read more ›

  • Going to school launches first ever financial literacy skills radio show for young people

    05 August 2015

    Non-profit trust Going to School, in partnership with Barclays, has announced the launch of a new radio show called 'Paison Ki Paathshala' in New Delhi and Pune. The radio show, which has already been successfully launched in Mumbai, aims to raise financial literacy levels by educating young people ... Read more ›

  • Financial Inclusion Advisory Committee reconstituted by RBI

    05 August 2015

    Reserve Bank of India (RBI) has informed that it has reconstituted the Financial Inclusion Advisory Committee (FIAC) to monitor financial inclusion plans and progress. The Committee would be monitoring the Financial Inclusion Plan progress submitted by banks and evaluation of its impact through con... Read more ›

  • Feeling Insecure, Millionaires Are Leaving India In Hoards

    05 August 2015

    Whereas successive Indian governments are striving to promote FDI since economic liberalization in 1991 by attracting overseas capital with investment and technological transformation in view, India is facing a ‘reverse osmosis’ of Indian billionaires and millionaires who are leaving the country... Read more ›

  • Remit2India launches instant remittance facility in Australia-India corridor

    30 July 2015

    Remit2India, a leading independent online money transfer service for Non-Resident Indians has added an instant remittance facility to their existing gamut of services. The facility aims to aid instant money transfers for NRIs in Australia into India in under five minutes of processing time and is av... Read more ›