Remittances to India likely to drop by 23 pct this year: World Bank

The World Bank has said that remittances to India are likely to drop by 23 per cent from 83 billion US Dollars last year to 64 billion US Dollars this year due to the Corona virus pandemic, which has resulted in a global recession. According to a World Bank report on the impact of the COVID-19 on migration and remittances, the remittances are projected to decline sharply by about 20 per cent this year due to the economic crisis induced by the pandemic and shutdowns due to out break of Novel Coro...