What Is Remittance?
Remittance in easy words sending money from one country to another to your relatives, friends or to anyone you know. Remittance can also be defined as sending a payment or a gift in the form of money. Remit to India means sending remit from any other country to India.
Remit To India
A few years back, it was difficult for people to send remit to India. It involved a lot of procedures, people had to run from place to place to send quick remit to India, also sending remit to India involved high costs. But that’s past! Remit to India no longer is that hard, that costly and it hardly involves any procedures!
These days you can make use of Money Exchange Service Providers which make sending a remit to India easy. With these Money Exchange Service Providers you can not only time, but also you don’t have to perform complicated steps. In short they make remit to India quick and easy! These providers allow you to deposit money directly into an account, track the transfer status and even make Paypal transactions. Various providers have different exchange rates. The exchange rate may vary from provider to provider.
Importance Of Remittance
People in the developing countries are highly depended on Remittance services as this provides heavy cash inflow and help in building economy.
Remitted funds contribute to the economic growth of developing countries due to the extra cash it gives.
Remittance thus leads to be better financial and social life’s.
India is progressing year by year in the remittance world. It’s presently ahead of China and received more than 26 Billion US Dollars per year from remittances.
People of all income groups are involved in remit. Indians go to other countries for jobs where they are paid high and they send a part of their income to their home land for improving their background and status.
Importance Of Remittance Services
- Efficient
- Quick
- Easy
- Saves time
- Low charges
- Safe and reliable
Reliable Money Exchange Providers
Times Of Money – This service is brought by Times Of India group and is very reliable and fast. You can check their service here.
Remit 2 India – This service is a parallel service run by Times Of India group. More information on Remit 2 India can be found here.
Western Union – This is another reliable service to send remit to India. Western Union offers a lot more features than other service providers and more information on Western Union can be found here.
Money Gram – Money Gram International powers official cheques, bill payments, online transfers, etc. You can read more about them at this link.
Check out the complete list of money exchange service providers.
Reliable Banks Providing Money Exchange Services
HSBC Bank - One of the reliable remittance service providers. More information about HSBC bank and their remittance services can be found here.
AXIS Bank – This premier bank also allows you to send remit to India. I highly refer this service. It offers a variety of more services and you can read more about them here.
HDFC Bank – HDFC, one of the leading banks allows you to send remit to India easily. Get to know more about HDFC bank here.
State Bank of India (SBI) - State Bank of India (SBI) allows you to send remittance to India using check or wire transfer. I recommend SBI highly as well because of its speed and reliability. Read more.
ICICI Bank - ICICI Bank Power Transfer gives you the power to transfer your money from anywhere in the World to India easily, quickly and safely. More information can be found here.