MUMBAI (Reuters) -India's central bank plans to tighten rules for overseas remittances by resident Indians, barring them from holding foreign currency deposits with lock-in periods, two government ...

Bangladesh recorded its second-highest monthly remittance inflow in history in May, receiving $2.97 billion, according to Bangladesh Bank. This is mainly due to the upcoming Eid-ul-Azha, as expatriate ...

The final decision now lies with the Senate. If passed, the remittance tax could come into effect starting 2026, reshaping how millions of immigrants manage and transfer their money internationally.

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The bill aims to support working families and place US economic interests. How the bill will impact India The 3.5% remittance excise tax has the potential to have a big effect on India if it is ...

Remittance is a vital component of Bangladesh's economic strategy, serving as a catalyst for economic growth, poverty reduction, investment, and human capital development. We must fully harness the ...

After declining by approximately US$67 million or over $10 billion in 2023, Jamaica’s remittance inflows further fell by nearly 0.5 per cent last year to total US$3.36 billion, marking the third ...

What are the implications of the remittance tax proposed by Donald Trump? Remittances are money transfers sent by migrants from abroad to their home countries. In Mexico’s case, they represent ...

"The Reserve Bank of India may be forced to intervene more frequently to stabilise the currency. The rupee could weaken by RS 1-1.5 per U.S. dollar if the remittance shock plays out fully," he added.

The remittance tax provisions in the bill have become an international flashpoint. Mexican President Claudia Sheinbaum has also criticized the plan and urged Republican lawmakers to reconsider it.

India is the largest recipient of remittances in the world with a total inflow of $118.7 billion in FY24 and is expected to go up to $128 billion in FY25. The US was the top source with nearly 28 ...

Remittance startup Felix Pago raised $75 million in a Series B round led by QED Investors as it looks to expand operations to more countries in Latin America and broaden its product offering.