Overseas Indian Affairs Minister Vayalar Ravi on Wednesday said remittances from
Indians employed abroad have been steadily increasing since 2009-10, with the amount in the first three months of 2012-13 at $17.4 billion.
The amount rose from $53.6 billion in 2009-10 to $55.6 billion in 2010-11 and
to $66.1 billion in 2011-12, the minister said in a statement in the Lok Sabha.
The minister said
banks had been told to sensitise NRIs on the options available to them to minimise the cost of remittances. "This will make the costing more transparent."
He said banks had also been advised to review their existing scale of charges both at the foreign and domestic end so as to minimise the current cost of remittances.
Special 
