TCS on remittances made under the LRS was introduced in 2020
The scheme allowed Indian residents to freely remit funds abroad up to $250,000 per financial year
Cash transfers increased in absolute terms but the rate of growth decelerated
In Kolkata, apart from the plenary meetings, there would be a symposium that would see participation of 12 international speakers
International travel contributed over $970 million or 50 per cent of $1.92 billion remitted by Indians in October 2022
Separate investigation on home-grown online gaming companies shows tax evasion of up to Rs 80,000 crore
At least five Indian banks, including the State Bank of India and ICICI Bank, are in discussions with Singapore's DBS Bank to start a real-time remittance system using UPI as the backbone
The ADB said that employment in host economies of Asian migrants is contracting significantly
It retained its top spot in 2015, attracting about $69 billion in remittances, down from $70 billion in 2014