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Inward remittances from outside India, legitimate dues in India and transfers from other NRO accounts are permissible credits to NRO account. [10] [11] Since 1991, India has experienced sharp remittance growth. In 1991 Indian remittances were valued at US$2.1 billion; [5] [12] in 2006, they were estimated at between $22 billion [13] and $25.7 ...
To make payments easier, Indians living abroad who have mobile numbers in the UAE can download the PhonePe app and link their current NRE and NRO accounts. PhonePe will also launch inbound remittance services as soon as the corridor for inward remittances is activated, eliminating the need for information like bank account numbers and IFSC codes.
The National Reconciliation Ordinance (NRO) was an ordinance issued by the former President of Pakistan, General Pervez Musharraf, on October 5, 2007. [1] It granted amnesty to politicians, political workers and bureaucrats who were accused of corruption, embezzlement, money laundering, murder, and terrorism between 1986 - 2007, the time between three states of martial law in Pakistan.
The NRO was planned to be presented in the National Assembly but later due to the opposition of several major parties was not presented in the Assembly. According to State Minister for Law Afzal Sindhu in a news conference, the ordinance affected 8,041 people, including 34 politicians and 03 ambassadors. [9]
A correspondent account is an account (often called a nostro or vostro account) established by a banking institution to receive deposits from, make payments on behalf of, or handle other financial transactions for another financial institution. Correspondent accounts are established through bilateral agreements between the two banks.
Kudumbashree was set up in 1997 following the recommendations of a three-member task force appointed by the State Government. Its formation was in the context of the devolution of powers to the Panchayat Raj Institutions (PRIs) in Kerala, and the People's Planning in Kerala, the campaign which attempted to draw up the Ninth Plan of the local governments from below through the PRIs.
World Bank: International associates of NABARD include World Bank-affiliated organisations and global developmental agencies working in the field of agriculture and rural development. These organisations help NABARD by advising and giving monetary aid for the upliftment of the people in the rural areas and optimising the agricultural process ...
National Electronic Funds Transfer (NEFT) is an electronic funds transfer system maintained by the Reserve Bank of India (RBI). Started in November 2005, the setup was established and maintained by Institute for Development and Research in Banking Technology. [1]