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India Impact: Dubai Remittance Crisis

The International Monetary Fund (IMF) has said the Dubai World debt restructuring “will not have a large impact” on the flow of remittances out of the UAE.

The UAE accounts for nearly 13 per cent of the total remittance flow into India, with as many as 42 per cent of the 1.5 million population of Dubai being Indians.

Noting that remittances worth $10 billion (Dh36.7 billion) go out of the UAE, a top IMF official has said the Dubai debt restructuring might have some effect on those outflows.

Click to continue reading “India Impact: Dubai Remittance Crisis”

India Post’s two new services – MO Videsh and Flat Rate Boxes

Union Communication and IT Minister A Raja today launched India Post’s two new services – MO Videsh and Flat Rate Boxes. MO Videsh was an offering in the field of international remittance services, which would be the first outward remittance service from the Department, barring the paper based money order service that existed towards Nepal and Bhutan, India Post sources said.

Click to continue reading “India Post’s two new services – MO Videsh and Flat Rate Boxes”

Pakistan Remittance Initiative

The State Bank has offered marketing expenses reimbursement to overseas entities that succeed to mobilise large amount of remittances for the country.

Click to continue reading “Pakistan Remittance Initiative”

Remittance Offers in this Diwali Season

It is Diwali season in India and the festive sprits are high. The festival of lights has certainly lifted the dampened sprits of recession with the stock markets rocketing for the past couple of days, even the dropping exchange rates have started to gain with a INR2 gain in the pound from the previous close of INR 73.20 to over INR 75 today.

The remittance service providers have quite a bouquet of offers on their sites, a few of them are as follows -

Barclays Remittance: Online Money Transfer offers UK ATP tour tickets free to its customers who remit money between 10th October till 9th November. The tickets will be for the finals match to be held in London. Please click here to see the promotion.

Remit2India: They offer white-goods which will be delivered to an address in India. The offer requires you to transfer money and play a simple game to be elegible for the offer. Please click here to see the promotion.

Money2India: They offer calling cards on remittances. Please click here to see the promotion.

Don’t miss out on the offers!

India post goes for a makeover with new services

India post has signed an agreement with Eurogiro, a global network of banks and financial institutions, for direct money remittance through post offices. Indians working abroad will soon be able to send cash directly to their relatives at their doorsteps through the widespread postal network. “The department of posts will soon join the Eurogiro remittance network, allowing its customers to receive and send money on a par with the best banks in the world,” an official in the Ministry of Communications and IT said to Economic times. Under the proposed scheme, the payment will be made at the doorstep of the beneficiary, as against the existing practice followed by banks and other institutions asking them to come to their offices to collect the payment.

GBP – INR Forex rates on 12th June 2009

The GBP-INR FX rates as displayed by various Indian Online Money Transfer service providers are as per the below table -

Operator	Inter Bank Rate	Display Rate	% Margin	Paise Margin
Barclays Online MT	INR 78.63	INR 77.90	0.92%	INR 0.73
HDFC Quick Remit	INR 78.63	INR 77.66	1.23%	INR 0.97
Remit2India	INR 78.63	INR 77.86	0.97%	INR 0.77
Money2India	INR 78.63	INR 77.28	1.71%	INR 1.35
Axis Remit	INR 78.63	INR 77.97	0.83%	INR 0.66
OnlineSBI	INR 78.63	INR 77.57	1.34%	INR 1.06
Bank of Baroda	INR 78.63	INR 76.96	2.12%	INR 1.67
CitiNRI	INR 78.63	INR 77.16	1.86%	INR 1.47

The rate are as of	1:07 PM	12-Jun-09

Disclaimer – The display rates shown in above are for illustration purposes and amy not be applicable to transactions process on the mentioned day or date. We do not claim any responsibility towards the correctness of the data presented here. The data has been colledcted from various websites and we do not solicit any transactions or remittances based on the above representation.

Fx Rates for GBP-INR remittance on 2nd June 2009

The Foreign Exchange rates for money transfer from Uk to India are as follows -

Operator	Inter Bank Rate	Display Rate	% Margin	Paise Margin
Barclays Online MT	INR 77.14	INR 76.80	0.44%	INR 0.34
HDFC Quick Remit	INR 77.14	INR 76.46	0.88%	INR 0.68
Remit2India	INR 77.14	INR 76.73	0.53%	INR 0.41
Money2India	INR 77.14	INR 76.54	0.77%	INR 0.60
Axis Remit	INR 77.14	INR 76.83	0.40%	INR 0.31
OnlineSBI	INR 77.14	INR 76.47	0.86%	INR 0.67
CitiNRI	INR 77.14	INR 75.46	2.17%	INR 1.68
Bank of Baroda	INR 77.14	INR 75.18	2.54%	INR 1.96

The rate are as of	8:23 AM	2-Jun-09

Disclaimer: The remittance FX rates have been collated from respective websites which offer money tranfer facility. They are subject to change during the course of the day and remittanceadvisor.com claims no responsibility of any action taken by the users/readers based on this information. This informantion should not be used as any basis for initiating money transfer or used as a case subject.

Foreign Exchange Rates for GBP-INR as of 29th May 09

The indicative rates displayed by various online money transfer service providers are as follows -

Operator	Inter Bank Rate	Display Rate	% Margin	Paise Margin
Barclays Online MT	INR 76.44	INR 75.80	0.84%	INR 0.64
HDFC Quick Remit	INR 76.44	INR 74.98	1.91%	INR 1.46
Remit2India	INR 76.44	INR 74.65	2.34%	INR 1.79
Money2India	INR 76.44	INR 74.98	1.91%	INR 1.46
Axis Remit	INR 76.44	INR 75.10	1.75%	INR 1.34
OnlineSBI	INR 76.44	INR 75.52	1.20%	INR 0.92
CitiNRI	INR 76.44	INR 72.84	4.71%	INR 3.60
Bank of Baroda	INR 76.44	INR 74.98	1.91%	INR 1.46

The rate are as of	8:44 AM	29-May-09

Disclaimer: The rates are only indicative and displayed as per the display on the above mentioned time. This is subject to change during the course of the day due to foreign exchange fluctuations. Remittance Advisor™ or any of its affiliates take no responsibility/ownership of the data and in no way solicits the readers to make a choice based on the above rates. The readers are advised to check with the service providers prior to engaging into any commitment.

GBP to INR forex rates on 8 May 2009

The GBP to INR foreign exchange rates as displayed on various online money transfer services and banks -

Operator	Inter Bank Rate	Display Rate	% Margin	Paise Margin
Barclays Online MT	INR 74.11	INR 74.00	0.14%	INR 0.11
HDFC Quick Remit	INR 74.11	INR 73.27	1.13%	INR 0.84
Remit2India	INR 74.11	INR 73.32	1.06%	INR 0.79
Money2India	INR 74.11	INR 73.34	1.03%	INR 0.77
Axis Remit	INR 74.11	INR 73.46	0.87%	INR 0.65
OnlineSBI	INR 74.11	INR 73.59	0.70%	INR 0.52
CitiNRI	INR 74.11	INR 72.72	1.87%	INR 1.39
Bank of Baroda	INR 74.11	INR 73.80	0.41%	INR 0.31

The rate are as of	10:52 AM	8-May-09

Remit2India: Money on Referral

Remit2India launched on 28th April 09, a new referral program targeted to increase business via new customers. The program is called “MORE Friends = MOR Money“

With MOR, the program claims that you will make money on referrals as well as your friend’s first transaction through us. For every friend that you refer, your Remit2India account^* will be credited with INR 150 (US$ 3 approx.) immediately.

Immediately after your friend completes his first transaction through Remit2India, your MOR statement^* will be again credited with a further amount of INR 350 (US$ 7 approx., the account or stament is not clear)

To know more about the offer please click here.

There were no terms and conditions available on the referral promotion page for review at the time is article was published. * – Remit2India account is not clear since the service does not operate any known e-wallets. The site mentions that the referral amount can be added to the next transaction.

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India Impact: Dubai Remittance Crisis

India Post’s two new services – MO Videsh and Flat Rate Boxes

Pakistan Remittance Initiative

Remittance Offers in this Diwali Season

India post goes for a makeover with new services

GBP – INR Forex rates on 12th June 2009

The GBP-INR FX rates as displayed by various Indian Online Money Transfer service providers are as per the below table -

Fx Rates for GBP-INR remittance on 2nd June 2009

The Foreign Exchange rates for money transfer from Uk to India are as follows -

Foreign Exchange Rates for GBP-INR as of 29th May 09

GBP to INR forex rates on 8 May 2009

Remit2India: Money on Referral

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