How NRI money is bolstering India's economy
Indian inward remittances have reached an all-time high of $107.5bn during 2022, according to RBI Governor Shaktikanta Das. The remittances have surpassed World Bank projections by $7.5bn, providing a macroeconomic cushion for India's external sector, adding to its foreign exchange reserves, fuelling investment and consumption, and helping strengthen the rupee's value.
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