Remit2India is a secure online money transfer service for NRIs to
send money to India from United States, United Kingdom, Australia, Singapore, Canada, U.A.E., Hong Kong, Germany, Spain & other Euro Countries. The service allows NRIs to send money safely using check transfers, wire transfer, ACH/Direct Debit,credits cards etc. The money can be received in India through demand drafts, account credits, remittance cards etc. You can send money directly to any account with any bank in India including SBI, ICICI Bank, HDFC Bank etc. Remit2India is part of the Times Group and the service is brought to you in association with Citigroup. Reloadable remittance cards are like debit cards that are used for money transfers to India. This card can be purchased on the recipient's name in India from selected banks and then one can send money to India through their online remittance facility. NRI accounts for money transfer to India are most widely used.
Wednesday, 11 May 2011
REMITTANCE
A remittance is a transfer of money by a foreign worker to his or her home country. See "remittance man" below for the historical use of the word, which is the opposite of the modern use.
Money sent home by migrants constitutes the second largest financial inflow to many developing countries, exceeding international aid. Estimates of remittances to developing countries vary from International Fund for Agricultural Development's US$301 billion (including informal flows) to the World Bank's US$250 billion for 2006 (excluding informal flows). Remittances contribute to economic growth and to the livelihoods of people worldwide. Moreover, remittance transfers can also promote access to financial services for the sender and recipient, thereby increasing financial and social inclusion. Remittances also foster, in the receiving countries, a further economic dependence on the global economy instead of building sustainable, local economies. Note that in 19th century usage a remittance man was someone (often a black sheep) exiled overseas and sent an allowance on condition that he not return home.
Money sent home by migrants constitutes the second largest financial inflow to many developing countries, exceeding international aid. Estimates of remittances to developing countries vary from International Fund for Agricultural Development's US$301 billion (including informal flows) to the World Bank's US$250 billion for 2006 (excluding informal flows). Remittances contribute to economic growth and to the livelihoods of people worldwide. Moreover, remittance transfers can also promote access to financial services for the sender and recipient, thereby increasing financial and social inclusion. Remittances also foster, in the receiving countries, a further economic dependence on the global economy instead of building sustainable, local economies. Note that in 19th century usage a remittance man was someone (often a black sheep) exiled overseas and sent an allowance on condition that he not return home.
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