Remittances will increase from $115 billion in 2023 to about $160 billion in 2029, as per the RBI's Report on Currency and Finance (RCF). With 13.5% of all remittance recipients worldwide, India is already the nation with the highest share in remittances. ...
Laos raises excise tax to limit outflow of foreign currency Lao President Thongloun Sisoulith has issued a decree that imposes higher excise tax on certain goods, aimed at curbing the import of luxury items in a bid to reduce the outflow of foreign currency. import tax BRI Foreign ...
The RBI also intends to explore the potential of CBDCs in cross-border payments, theReport on Currency and Finance 2023-24indicates. It has highlighted developing cross-border CBDCs and interlinking individual domestic CBDC systems. It shared that CBDCs reduce dependency on cash, lower currency manag...
Dr Jorgovanka Tabaković, Governor of the National Bank of Serbia, at the opening ceremony of the 20th China International Finance Forum, 14 December 2023. foreign trade digital economy BRI time: 2023-12-25 10:05:15 views: 29615 Central banks of Serbia, China sign MoU to facilitate yuan ...
The Reserve Bank of India (RBI) Governor, Dr Urjit Patel and Ban Kin-moon Secretary-General of the United Nations met with the Tax Committee on Finance RBI Mumbai/Delhi branch. Regarding unclaimed funds which have been due for a long run, At the end of the meeting (RBI) Governor, Dr...
The Reserve Bank of India (RBI) is thecentral bankof India, which began operations on Apr. 1, 1935, under the Reserve Bank of India Act. The Reserve Bank of India usesmonetary policyto create financial stability in India, and it is charged with regulating the country’s currency and credi...
SBI is raising this facility for general corporate purposes through its branch in Gujarat International Finance Tec-City, the country's newest financial hub. In 2024, State Bank of India is joining a growing list of local borrowers raising foreign currency loans, with non-banking financial companie...
“The financial landscape in India is undergoing a structural transformation, driven by factors like innovations in technology, financial deepening, and changing savings and investment patterns. Each of these shifts has a bearing on how financial entities carry out their business and adapt to the ...
The Reserve Bank of India (RBI) does not have any statistics on the usage of the retail digital rupee (e-rupee) as per a Right to Information (RTI) response received by Srikanth Lakshmanan from the CashlessConsumer collective. The e-rupee is a Central Bank Digital Currency (CBDC)launchedin...
The continuous rise in the foreign currency exchange market motivates FFMC business entities to track down the Money Changer Compliance activities in India. How do Full-Fledged Money Changers Make Money? Generally, the Full-Fledged money changers in India make money by charging fees and commissions...