chart

Further, in April 2022-February 2023, outward remittances under LRS stood at $24.18 billion, an all-time high

Nirmala Sitharaman

Underlining the contribution of non-resident Indians, Union Finance Minister Nirmala Sitharaman on Tuesday said remittances sent to the country by overseas Indians were about USD 100 billion for the year 2022, an increase of 12 per cent in one year.
Speaking at a session during the Pravasi Bharatiya Divas (PBD) convention in Madhya Pradesh's Indore city, she described NRIs as the "real ambassadors of India" and appealed to them to use made in India products and services as far as possible so that the country's individual brand can be promoted across the globe.
Sitharaman also said that after the "China plus one" policy, the world is now talking about the "European Union (EU) plus one" policy.
The government is strongly presenting India to multinational companies as a country where they can set up their factories apart from China and the EU, she said.
Sitharaman said the Indian diaspora should also partner with small and big businessmen of the country so that the entrepreneurial ski

Pakistani Rupee

Remittances sent by overseas Pakistani workers decreased 10.5 per cent in September 2022 on a month-on-month basis, the State Bank of Pakistan has said

remittance

India's remittances from the Gulf saw a steep decline during the pandemic. But it was offset by a jump in remittances from the US. Let's understand the changing dynamics of inward remittances

graph

Travel, relative care top the chart, with the former coming back to pre-Covid levels

Remittances, money transfer, economy

Growth in the money repatriated by migrant workers will slow to 4.2% in 2022 as base effects fade

Ajith Nivard Cabraal, Governor of the Central Bank of Sri Lanka (Reuters)

The  governor of Central Bank of Sri Lanka said he has seen a $300 million drop in remittances in just the last month

free trade agreements

Exporters may approach AD Category-I banks for reduction in invoice value on account of cash discount to overseas buyers for prepayment of the usance bills

The ADB said that employment in host economies of Asian migrants is contracting significantly

Thomas Isaac

'There will be demand for Kerala nurses and paramedics all over the globe,' says Finance Minister Thomas Isaac

Photo: Shutterstock

The figure dropped to $65.59 billion in 2015-16 and further to $61.29 billion in 2016-17

The stock price of GVK Power & Infrastructure was locked in the 5% upper circuit for the eight day, trading at its highest level since September 2018 on the BSE

Sensex, Nifty, stock brokers

Meanwhile, companies like HP and Acer, which do not sell mobile phones in India, are likely to miss out

Apple iPhone

The restructuring exercise will be undertaken by Arjun Mohan, who was recently elevated as chief executive officer (CEO) of its India business, replacing Mrinal Mohit, according to the sources

Byju's

His three children - twins Akash and Isha (both 31) and Anant (28 years) - will get only a sitting fee and a commission on the profit earned by the firm

Reliance Industries chairman Mukseh Ambani and Nita Ambani's children, left to right, Akash, Isha and Anant Ambani. PTI: Photo

Isha, Akash and Anant Ambani

To borrow Rs 6.55 trillion in second half

money, cash, rupees

"The fact that over fifty visitors were able to raise slogans is a matter of grave concern. In response to this serious breach, Members from the opposition panics walked out in protest"

Priyanka Chaturvedi

IAS-turned-politician Sasikanth Senthil has been appointed as the Chairman of the Central War Room

Congress

All individual demat account holders and mutual fund investors have time till September 30, to nominate a beneficiary or opt out of it by submitting a declaration form, failing which their demat accounts and folios will be frozen, and they will not be able to redeem their investments.
This mandate applies to both new as well as existing investors, according to the Securities and Exchange Board of India (Sebi).
The move is aimed at helping investors to secure their assets and pass them on to their legal heirs.
"This will ensure smooth and hassle-free transfer of securities to the legal heirs of the investors in case of any unfortunate event," Tejas Khoday, co-founder and CEO at FYERS, said.
Under Sebi's rule, new investors must either nominate their securities or formally opt out of nomination through a declaration form when opening trading and demat accounts.
For existing investors, including jointly-held mutual fund folios, failing to meet this deadline will result in the freezin

Nominee

India kicked off the Asian Games on a sparkling note as the trio helped India to claim their first medal. Shah heaped praise on the shooters by saying that they have made the entire nation proud

Amit Shah

Kamboj recalled that India during the Covid-19 pandemic extended a helping hand by providing made-in-India vaccines to nearly 100 countries and supplying medicines to 150 nations

India's Permanent UN Representative Ruchira Kamboj

International credit agency Moody's Investors Service has made sweeping assertions against Aadhaar without citing any evidence, the Unique Identification Authority of India (UIDAI) said on Monday.
The UIDAI issued a strong rebuttal to Moody's Investors Service which claimed that the Aadhaar system often results in service denials and the reliability of biometric technologies, especially for manual labourers, in hot and humid climates is questionable.
"A certain investor service has, without citing any evidence or basis, made sweeping assertions against Aadhaar, the most trusted digital ID in the world. Over the last decade, over a billion Indians have expressed their trust in Aadhaar by using it to authenticate themselves over 100 billion times," the UIDAI said in a statement.
The unique id Aadhaar's custodian said that the report in question does not cite either primary or secondary data or research in support of the opinions presented in it.
"The investor service did not make any

Adhaar, UIDAI

The Nijjar murder is fast unfolding into treacherous scenarios that could have tragic consequences for both nations. No one stands to gain from the ongoing face-off

India Canada

The leaders of both countries should encourage bilateral trade and people-to-people exchanges that can help build bridges

India's rage is misplaced and hardly serves to endear the country to those appalled by the idea that it may have had a Canadian citizen killed

Canada has updated travel advisory for its citizens in India asking them to "stay vigilant and exercise caution" in the context of recent developments as there are calls for protests and some "negative sentiment" towards Canada on social media.
Tensions flared between India and Canada following Canadian Prime Minister Justin Trudeau's explosive allegations of a "potential" involvement of Indian agents in the killing of Khalistani extremist Hardeep Singh Nijjar, 45, on his country's soil on June 18 in British Columbia. India had designated Nijjar as a terrorist in 2020.
India angrily rejected the allegations as "absurd" and "motivated" and expelled a senior Canadian diplomat in a tit-for-tat move to Ottawa's expulsion of an Indian official over the case.
"In the context of recent developments in Canada and in India, there are calls for protests and some negative sentiment towards Canada on social media. Please remain vigilant and exercise caution," the Canadian government said in an

Chief Election Commissioner Rajiv Kumar on Tuesday signed a Memorandum of Understanding (MoU) with Electoral Commission Chairperson of Seychelles Danny Lucas on 'Electoral Cooperation' in the capital of Seychelles. The MoU was signed to boost the exchange of best practices in election management and training officials. Taking to their social media 'X', the Election Commission of India stated, "#ECI Expands Electoral Collaboration. CEC @rajivkumarec  &  Mr. Danny Lucas, Chairperson, Electoral Commission #Seychelles sign MoU on 'Electoral Cooperation' at Victoria, Seychelles. MoU to strengthen the exchange of best practices in election mgt.  &  training of officials." Indo-Seychelles relations have been characterised by close friendship, understanding and cooperation. To facilitate cooperation further a number of bilateral agreements/MOUs have already been signed during the last few decades. Earlier this year, Rajiv Kumar held productive discussions with the Chief Election ...

Rajiv

The National Investigation Agency on Wednesday is conducting major raids across 6 states in 3 cases at 51 locations belonging to associates of Lawrence, Bambiha and Arsh Dalla Gangs

In the wake of Canada's allegations about India's potential involvement in the killing of a Khalistani separatist on its soil, External Affairs Minister S Jaishankar has said that New Delhi conveyed to Ottawa that it is not the government of India's policy and it is open to looking at specific and relevant information in the case.
Yes, I do have a comment. I'll share with you very frankly what we told the Canadians, Jaishankar said during a conversation at the Council on Foreign Relations (CFR) here Tuesday when asked if he had any comment on the allegations by Canadian Prime Minister Justin Trudeau that agents of the government of India are linked to the killing of a Canadian Sikh.
"One, we told the Canadians that this is not the government of India's policy. Two, we told the Canadians saying that look, if you have something specific, if you have something relevant, let us know. We are open to looking at it, he said during a conversation with former US Ambassador to India and CFR ..

Sources privy to the development have informed ANI that 'One Nation One Election' would be beneficial not only in the national interest but would also save a lot of the financial reserves of the govt

Voting, elections, Polls, Votes

Catch all the latest live updates from around the world here

Overseas remittances

Remittances decline 23% sequentially to $2.1 billion in February

Remittances from overseas Indians increased by 12% in 2022: FM Sitharaman

Remittances from overseas Pakistani workers decrease 10.5% in September

What's the significance of the US overtaking UAE in remittances to India?

Overseas remittances almost double year on year to $2 billion in April

Global remittances to rebound as economies recover from Covid impact: ADB

Why Lanka wants migrant workers to remit funds via banking channels

Deduction of interest due to prepayment of usance bill is allowed: Expert

Asia-Pacific may see up to $54.3-bn remittance loss due to Covid-19: ADB

Kerala to train, export health workers; capitalise on remittances: FM Isaac

Remittances by overseas Indians dropped by $8.5 billion: Govt