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Remittances to India are money transfers (called remittance) from non-resident Indians (NRIs) employed outside the country to family, friends or relatives residing in India. India is the world's top receiver of remittances, claiming more than 12% of the world's remittances in 2015.
External commercial borrowing (ECBs) are loans in India made by non-resident lenders in foreign currency to Indian borrowers. They are used widely in India to facilitate access to foreign money by Indian corporations and PSUs ( public sector undertakings).
FEMA served to make transactions for external trade and easier – transactions involving current account for external trade no longer required RBI’s permission. The deals in Foreign Exchange were to be ‘managed’ instead of ‘regulated’. The switch to FEMA shows the change on the part of the government in terms of for the capital. [14]
A foreign direct investment (FDI) is an investment in the form of a controlling ownership in a business in one country by an entity based in another country. It is thus distinguished from a foreign portfolio investment by a notion of direct control.
Minister of Non-Resident Indian Affairs 1 Jagdish Tytler (born 1944) MP for Delhi Sadar (MoS, I/C) 23 May 2004 9 September 2004 109 days: Indian National Congress: Manmohan I: Manmohan Singh: Minister of Overseas Indian Affairs (1) Jagdish Tytler (born 1944) MP for Delhi Sadar (MoS, I/C) 9 September 2004 10 August 2005 335 days: Indian National ...
The foreign exchange reserves of India are holdings of cash, bank deposits, bonds, and other financial assets denominated in currencies other than India's national currency, the Indian rupee. The foreign-exchange reserves are managed by the Reserve Bank of India (RBI) for the Indian government, and the main component is foreign currency assets.
By 2013 the Indian Banking Industry employed 1,175,149 employees and had a total of 109,811 branches in India and 171 branches abroad and manages an aggregate deposit of ₹ 67,504.54 billion (US$780 billion or €760 billion) and bank credit of ₹ 52,604.59 billion (US$610 billion or €590 billion).
In 2018, with 25% of the population of all non-resident migrants in the US, Indians made up the highest number of non-resident migrants (those without US citizenship or green card). [210] The US Census Bureau uses the term Asian Indian to avoid confusion with the indigenous peoples of the Americas commonly referred to as American Indians.