NEW DELHI, Nov 17: A two-day international ministerial conference on how to deal with terror financing, including legitimate and illegitimate funding routes, will begin here on Friday and it will be attended by representatives of 75 countries and international bodies, an official said. The 3rd ‘No Money for Terror Ministerial Conference on Counter Terrorism Financing’ is being hosted by the Ministry of Home Affairs and is likely to be inaugurated by Prime Minister Narendra Modi and to be attended by […]
It also noted that stressed income conditions are discernible from small size transactions gaining a share in total remittances during the pandemic period, , remittances, gulf countries, COVID-19, rbi
The share of inward remittances from Gulf nations dipped sharply during 2020-21 on account of the economic stress created by the COVID-19 pandemic, said an RBI article. On the other hand, advanced economies like the US, the UK and Singapore emerged as important sources for the country for remittances, accounting for 36 per cent of the total payments in 2020-21, the article said citing an RBI survey.
This follow-on benchmarking exercise, covering the same countries and parameters used in the earlier study, was undertaken with respect to the position in 2020, the RBI said, , india, Digital Payment System, rbi
''India has made significant progress and moved to a leadership position in large value payment systems and fast payment systems, which contributed to rapid growth in digital payments,'' the report said.