Much of this growth has been linked to the rising number of skilled Indian workers migrating to developed countries such as the United States, the United Kingdom, and Singapore.
Tag: Remittance
SGD-INR Hits 65: How to Make the Most of This Exchange Rate Spike
There was a frantic exchange of messages among NRI community in Singapore when one of person’s transferring cash back to India hit an exchange rate of INR 65 on the Western Union app.
Remittances to India from Singapore reach huge volumes through Instarem
Instarem, which was founded in Singapore by entrepreneurs with Indian roots, enjoyed strong growth of 30 per cent per annum from the global remittance market of USD682 billion.
NRIs in UAE to benefit from Muthoot, LuLu partnership
Muthoot Finance, the India-based gold loan NBFC company, has signed a MoU with UAE-based Lulu International Exchange, to work as its collection partner. NRIs in the UAE will be benefited.
Nium bets big in ICC T20 World Cup
Singapore-headquartered Nium has decided to ride on the popularity of cricket by coming on board as the global fintech partner for the ICC men’s T20 World Cup.
Instarem launches fast money transfer services to and from Malaysia
Singapore-headquarted Instarem has added Malaysia to the list of countries to which fast money transfers can be made.
Emirates NBD mulls plans for expansion in India
One of the major banking groups in the Middle East North Africa and Turkey (Menat) region, Emirates NBD, has announced its plans for further expansion in India, following approval from the Reserve Bank of India (RBI) to open two additional branches.
RBI, MAS announce plan to link e-payment systems across India, Singapore
Singapore News: The Reserve Bank of India and the Monetary Authority of Singapore announced a project to link their respective fast payment systems. While India uses Unified Payments Interface (UPI) as a fast payment method, Singapore uses the PayNow system.
India has largest diaspora, receives highest remittance: UN Report
With a 17.5 million-strong diaspora across the world, India has the largest international migrant population of any country in the world and it received the highest remittance (USD 78.6 billion) from Indians living abroad yet again, according to the UN migration agency.
Five quick and easy ways to remit money back to India
It is right in the midst of Diwali season, and money transfers back to India are in full flow. With the large Indian population in Singapore and the amount of trade between the two countries, you will find a number of providers and methods available when you need to make a money transfer.
