Now NRIs can send remittances more often: RBI

June 10, 2012

RBI

Mumbai, June 10: The Reserve Bank, on Saturday, permitted NRIs to send remittances more frequently, a step to boost foreign currency inflows and check rupee fall.

Resident Indians are now allowed to receive as many as 30 remittances from NRI friends and relatives during a year as against 12 earlier, according to a latest RBI circular.Analysts said that the RBI decision would help raise foreign exchange reserves.

In the circular addressed to authorised Indian agents under the Money Transfer Service Scheme (MTSS), RBI directed them to bring this to the notice to sub-agents as well and ensure the adherence to the guidelines.

The RBI had taken several initiatives in the last few weeks to arrest the fall of the rupee against the dollar.

The Indian currency has been declining continuously since March and touched a historic low of 56.38 to a dollar last month.

The rupee, on Saturday, closed down by a whopping 48 paise at 55.42 against dollar amid spurt in demand for the US currency after Fitch’s downgrade of Spain worsened the eurozone crisis.

MTSS is a quick and easy way of transferring personal remittances from abroad to beneficiaries in India. Only personal remittances such as remittances towards family maintenance and remittances favouring foreign tourists visiting India are permissible.

The system envisages a tie-up between reputed money transfer companies abroad and agents in India who would disburse the funds to the beneficiaries at ongoing exchange rates.

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News Network
April 11,2020

New Delhi, Apr 11: Calling upon chief ministers to popularise Aarogya Setu app, Prime Minister Narendra Modi on Saturday said it will an essential tool in India's fight against coronavirus and referred to the possibility of the app being an "e-pass which could subsequently facilitate travel from one place to other".

Interacting with chief ministers through video conference, the Prime Minister mentioned how South Korea and Singapore had got success in contact tracing and said India has made its own effort through the app amid efforts to contain the spread of coronavirus.

A PMO release said that the Prime Minister spoke about popularizing the Aarogya Setu app to ensure downloads in greater numbers.

"He referred to how South Korea and Singapore got success in contact tracing. Based on those experiences, India has made its own effort through the app which will be an essential tool in India's fight against the pandemic, he said. He also referred to the possibility of the app being an e-pass which could subsequently facilitate travel from one place to another," the release said.

The Prime Minister had earlier this week urged people to download the app saying it is an important step in the fight against COVID-19 and its effectiveness will increase as more people use it.

"Aarogya Setu is an important step in our fight against COVID-19. By leveraging technology, it provides important information. As more and more people use it, it's effectiveness will increase. I urge you all to download it," he had said in a tweet.

The app launched earlier this month in public-private partnership enables people to themselves assess the risk for their catching the coronavirus infection.

The app makes its calculations based on a person's interaction with others, using Bluetooth technology, algorithms and artificial intelligence.

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News Network
May 29,2020

May 29: Over 45,000 stranded Indians were brought back home from abroad under the Vande Bharat mission and another 1,00,000 will be evacuated till June 13, the Ministry of External Affairs said on Thursday.

The mega evacuation mission was launched on May 7.

MEA Spokesperson Anurag Srivastava said the government is also assisting return of stranded Indians from remote locations in Latin America and Caribbean, Africa, and parts of Europe.

"This is being done by taking advantage of foreign carriers flying to India primarily for evacuation of their nationals," he said during an online media briefing.

He said a total of 45,216 Indians were brought back till Thursday afternoon and they include 8,069 migrant workers, 7,656 students and 5,107 professionals.

About 5,000 Indians have returned through land border from Nepal and Bangladesh.

In the first phase of the mission from May 7 to 15, the government evacuated around 15,000 people from 12 countries. The second phase of the evacuation mission was scheduled from May 17 to 22. However, the government has extended it till June 13.

Srivastava said a total of 3,08,200 people have registered their request with Indian missions abroad for repatriation to India on compelling grounds.

"During the phase two, a total of 429 Air India flights (311 international flights + 118 feeder flights) from 60 countries are scheduled to land in India. The Indian Navy will be making four more sorties to bring back returnees from Iran, Sri Lanka and the Maldives," Srivastava said.

The MEA spokesperson said the government is targeting to bring back 1,00,000 people from 60 countries by the end of phase two of the Vande Bharat mission.

"Preparations for third phase of Vande Bharat Mission are well underway," he said.

As per the government's policy for evacuation, Indians having "compelling reasons" to return like pregnant women, elderly people, students and those facing the prospect of deportation are being brought back home.

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News Network
February 16,2020

Washington, Feb 16: India and the United States share "unshakeable" ties, said US Principal Deputy Assistant Secretary (PDAS), Alice Wells, on Sunday, adding that the upcoming visit of President Donald Trump will further strengthen the relationship between the two countries.

"The U.S. and #India enjoy a close partnership that grows stronger day by day. Together, we are breaking records. For example, we welcomed a record number of Indian exchange students to the US last year and hope to receive even more this year," said Bureau of South and Central Asian Affairs in a tweet attributed to Alice Wells.

"The ties between our countries are unshakeable, and we look forward to an even warmer relationship as @narendramodi hosts @POTUS later this month," it added.

Trump will pay a two-day state visit to India from February 24 at the invitation of Prime Minister Narendra Modi.

"India is at the heart of the Indo-Pacific region and plays an increasingly prominent role on the world's stage. The U.S. looks forward to partnering with #India at every step of the way, " Alice Wells further said.

According to the Ministry of External Affairs (MEA), Trump is expected to attend an event at the Motera Stadium in Ahmedabad on the lines of the ''Howdy Modi'' function that was addressed by the US President and PM Modi in Houston in September last year. Trump is slated to pay a two-day visit to India from February 24.

During the visit, Trump, who will be accompanied by First Lady Melania, will attend official engagements in New Delhi and Ahmedabad, and interact with a wide cross-section of the Indian society, the MEA said in a statement.

The announcement of Trump's first official visit to India was earlier made by the White House on Monday, which, in its statement, said that the US President and Modi had agreed during a recent phone conversation that the trip will "further strengthen the United States-India strategic partnership and highlight the strong and enduring bonds between the American and Indian people".

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