Remittances to India to decline by five per cent in 2016: World Bank

  |   India News

India, the world's largest remittance recipient in 2015, may receive a remittance of USD 65.5 billion this year, a drop of 5 per cent, revealed the World Bank. Despite the drop, India is likely to top the list of countries receiving remittance.

"In 2016, remittance flows are expected to decline by 5% in India and 3.5% in Bangladesh, whereas they are expected to grow by 5.1% in Pakistan and 1.6% in Sri Lanka," the World Bank said in a latest report on remittances.

The World Bank said remittances to South Asia is expected to decline by 2.3% in 2016, following a 1.6% decline in 2015.

To read full article -