Remittances to India may decline by 23%: World Bank

As a result of the deadly coronavirus pandemic, which has resulted in a global recession, remittances to India are likely to drop by 23 per cent from $83 billion last year to $64 billion this year, the World Bank has said. Globally remittances are projected to decline sharply by about 20 per cent this year due to the economic crisis induced by the COVID-19 pandemic and shutdown.

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