Nearly 5% of every dollar from relatives abroad lost to charges – The Times of India
MUMBAI: India remains the most cost-effective destination for remittances, yet recipients still lose around 5% of the money sent by relatives abroad in transfer costs.According to a Reserve Bank of India (RBI) study, the global average cost of sending $200 has fallen (from nearly 9.7% in 2009 to around 6.7% in Q2 2024) but remains…