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 [...]]]> 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.

“… I think it’s important to recognise that while there may be a slowing down in Dubai, Abu Dhabi continues to grow rapidly, as do other countries in the Gulf Cooperation Council (GCC). So the net effect in terms of remittances out of the region may not be as large,” Masoud Ahmad, director of IMF’s Middle East and Central Asia Department said on Wednesday.

The Reserve Bank of India on Thursday said the crisis would have some impact on remittance flow into the country, especially to those states which get huge inflows from the Gulf.

“Some parts of the country are certainly more dependent on remittances from Dubai, but overall I think it is too early to say. There could be some impact… ,” RBI Deputy Governor Usha Thorat had said.

Sudhir Kumar Shetty, chief operating officer of UAE Exchange, one of the country’s largest money exchange houses with branches elsewhere in the Gulf and beyond, said transfers from Dubai had dropped slightly but extra business from two other emirates, Abu Dhabi and Sharjah, had compensated.

“We haven’t seen any change in volumes since the news [of the restructuring] broke. As long as expatriates are employed, they will make remittances,” he said.

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 [...]]]>  

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!

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 [...]]]> 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.

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 74.36 INR 74.26 0.13% INR 0.10 HDFC Quick Remit INR 74.36 INR 73.50 1.16% INR 0.86 Remit2India INR 74.36 INR 73.43 1.25% INR [...]]]> Online Money Transfer Foreign Exchange Rates for UK to India remittances -

Operator	Inter Bank Rate	Display Rate	% Margin	Paise Margin
Barclays Online MT	INR 74.36	INR 74.26	0.13%	INR 0.10
HDFC Quick Remit	INR 74.36	INR 73.50	1.16%	INR 0.86
Remit2India	INR 74.36	INR 73.43	1.25%	INR 0.93
Money2India	INR 74.36	INR 73.34	1.37%	INR 1.02
Axis Remit	INR 74.36	INR 73.54	1.10%	INR 0.82
OnlineSBI	INR 74.36	INR 73.12	1.67%	INR 1.24
CitiNRI	INR 74.36	INR 72.13	3.00%	INR 2.23
Bank of Baroda	INR 74.36	INR 73.30	1.43%	INR 1.06
The rate are as of	10:06 AM	4-May-09

Note: The above rates are only indicative  as per the websites and have no bearing on the actual transaction. Further, remittanceadvisor.com claims no responsibility over any discrepancy, omission or in-advent errors in data compilation. All data contained herein are, will and continue to be the property of the original publishers.

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. [...]]]>

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.