Consider these 3 things before you transfer money

Things to Consider Before Transferring Money Online

Transferring money from one country to another can be a regular task for some, but for others, it could be a tough one. If you are an Indian living abroad and planning to send money to India, you will either have to visit an agent or your bank or the best way is to make the transfer online. Though there are many ways through which you can send money to your country, you should always check how safe their service is. Apart from these things, have a look at the three major points that should be considered before you transfer money.

  • Watch Out For Exchange Rates – When you transfer a certain amount of money to another country, the money transfer agency or services charges a particular amount. Every financial institution has different exchange rates for international transfers. It is important to be vigilant and check the exchange rates, compare it with other money transfer agencies and select the best rates for a beneficial transaction.
  • Decide The Amount – Depending on the amount you are planning to transfer, select the mode from different money transfer agencies offering competitive rates and packages. For e.g., Remit2India can help you to transfer from minimal amount to a large amount of money up to 50,000 USD from the US to India. Money transfer services like Remi2India is ideal to make all types of money transfer conveniently to India.
  • Check The Transfer Fees – Many banks around the world or in the US to be specific can be very expensive when it comes to moving money internationally. The transfer rates of such financial institutes are very high and may burn a hole in your pocket when you want to send money to your loved ones in need. Remit2India offers zero transfer fees when you send money from Australia to India.

Sending money online is the best way when you want to transfer funds on an urgent basis without spending too much on its transfer. Remit2India is one such money transfer service that helps you to quickly and securely send money to your friends and family from 24 countries around the globe to India.

NRIs can now enjoy tax benefits for salary credited to their NRE/NRO accounts

NRI-Taxes

Often NRIs working abroad face taxation worries for their overseas salary income credited into their NRE/NRO accounts. This is because a non-resident can be subjected to tax in India on that portion of the income which is received in India.

However, The Income Tax Appellate Tribunal (ITAT) which adjudicates tax matters, in a recent decision, has held that merely because the salary was credited by an international company to the employee’s NRE bank account in India, it will not trigger a tax incidence in India. The ITAT sought to distinguish between ‘income’ received in India and an ‘amount’ received in India.

Rupee at lifetime low against the $

Indian-Rupee

 

 

 

 

 

 

 

 

 

The falling rupee has given FII inflows in India the shiver; however Indians abroad (NRIs) are making the most of it.
Rupee on Monday slipped to a lifetime low of 57.33 vs dollar. Dropping to a record low in early trade, this comes after disappointing data from India and other Asian giants like China and slightly better-than-expected US jobs data.

Speculations now rise for a possible intervention by RBI

Celebrating 100 glorious years of Indian Cinema

Remit2India celebrating 100 years of Indian Cinema

Some say it’s a passion, some an obsession, on completing 100 years Indian Cinema owes it to the man who is known as the father of the Indian Cinema ‘Dhundiraj Govind Phalke (1870 -1944)’.

Dadasaheb Phalke as we better know him as, held the first show of Raja Harishchandra what is widely considered to be the first Indian feature film at Bombay’s Olympia Picture Palace on April 21, 1913. The commercial screenings started 12 days later, on May 3, 1913 at Coronation Cinematograph and Variety Hall, Sandhurst Road, Girgaum, Bombay.

A salute to the every growing and ever enriching Indian Cinema which seems to be borne every day yet fulfills the legacy which started 100 years back.

Indian Cinema ‘Young at 100’

–       A tribute to all Indian by @Remit2India

Pravasi Bharatiya Divas (PBD) Convention- Kochi 7th January 2013

The eleventh edition of the Pravasi Bharatiya Divas (PBD) Convention, the flagship event of The Ministry of Overseas Indian Affairs, will be held in Kochi, Kerala, on 7-9 January, 2013. The Government of Kerala will be the State partner of this event.

The day commemorates the return of Mahatma Gandhi from South Africa.The Pravasi Bharatiya Divas is celebrated every year to cherish the contributions of the Overseas Indian Community to the development of India.

The PBD Convention provides a unique platform for overseas Indians to interact among themselves and with the Government of India and the Governments of various Indian States. It is a forum where the Government of India showcases investment opportunities in India and its potential in various sectors.

In the forthcoming PBD, numerous enthusiastic participation is expected from heterogeneous and diverse overseas Indian community spread across the globe. The effort is to have a meaningful and interactive event that would address the issues and concerns of the overseas Indian community effectively.

The great Indian Diaspora embodies the indomitable spirit of enterprise, harmony and patriotism for the land of their origin. The enthusiastic participation in the Pravasi Bharatiya Divas over the years since 2003, and the eagerness to connect with the homeland, express the emotional bonds that all Non Resident Indians so fondly share with their motherland. The commercial capital of Kerala awaits to enchant everyone with its natural beauty of backwaters, and mesmerizing monuments of God’s Own Country.

40% rise in Remittances expected in the state of Kerala

With India expected to hold on to it No. 1 remittance receiving country tag with expected $70 billion in remittance flows according to a recent World Bank report. The southern state of Kerala is expected to rise by 40% to Rs 60,000 crore in 2012, as against Rs 50,000 crore in 2011.

“This shows that slowdown and other crises are no limits when it comes to sending money back home,” S Irudaya Rajan, chair professor, research unit on international migration, Ministry of Overseas Indian Affairs said.

Recent policy measures by the Reserve Bank of India have also given a fillip to the remittance business. After the interest rates on NSE and NRO accounts were deregulated last year, banks looked to shore up low cost deposits through this route, by increasing rates which were controlled. NRE saving deposits mirror domestic saving rates at 4% while interest on NRE term deposits range from 8.5% to 9%.

Seattle-based coffee giant Starbucks inaugurated its first store in India

India a country known for tea lovers has witnessed yet another historic moment; Starbucks the coffee giant has opened its first store in India in association with Tata Global Beverages.

Like KFC, McDonalds and Pizza Hut, Starbucks too has menu items that reflect local as well as western tastes, featuring items such as Elaichi Mawa croissants – made with cardamom and milk solids – and tandoori paneer rolls.
With over 42 items on the menu, seating capacity of 120 people and free Wi-Fi it promises to appeal both youngsters as well as the office executives.

With the likes of Cafe Coffee Day, that has around 1,350 outlets (current market leader) along with a host of international players, like Gloria Jean’s, Costa Coffee, Coffee Bean & Tea Leaf already scrambling to catch up. Dunkin Donuts which also debuted this year, it would be interesting to know how the coffee giant goes about its business in India.

Remit2India NRI Family Day celebrated in New Delhi with great enthusiasm

 

 

 

 

 

 

 

 

 

 

 

 

Known for its historical and political importance as also for its famous architectural monuments like the Qutub Minar, Humayun’s tomb and the Red Fort, India’s capital witnessed a spectacular evening this Sunday, filled with a wide variety of performances, activities and contests at the NRI Family Day, organized by Remit2India.

Remit2India, that serves over a million NRIs worldwide with its online money transfer service, extended its consumer connect initiative to New Delhi and recently gave 500 of its NRI families and friends a reason to celebrate. The Lalit, New Delhi played host to Remit2India NRI Family Day, an evening that witnessed a mélange of entertainment for each and every one present. From a breathtaking performance by India’s fastest guitarist Apernit Singh, to dance performances by talented international artists, the event had it all. The evening also witnessed activities like no other, and included free health check-ups, face painting, tarot card reading & photo sessions, all of which saw excellent participation from the families.

 

Speaking on this occasion, Kunnal Sharma, Business Head – Global Remittances, TimesofMoney said, “No countrywide celebration is complete without Delhi on its map. And true to its reputation, the city welcomed the NRI Family Day with great enthusiasm. We are delighted with the overwhelming response we received from over 500 NRI families for the Remit2India NRI Family Day. The event has provided us an opportunity to connect with our valuable customers, and thank them and their families for their continued support.”

Key partners for the event included Harit Dharaa, Jet Airways, Leonia Resorts, LIC Housing Finance Ltd., Moolchand Hospital and Volvo.

Remit2India’s Money on Referral (MOR) program

Remit2India’s Money on Referral program (MOR) just got BIGGER!

All one has to do is refer his/her NRI friend and he/she can earn Rs.1,000/- per referral. Your friends also get Rs. 500/- for using Remit2India services. And the good part is one can refer as many NRI friends as possible. So what are you waiting for? Start referring now and earn unlimited benefits!

The customer also has the choice to redeem this as extra money sent as remittance or even as a Gift Voucher against a host of gifting items from a special catalog.

So, spread the word with Remit2India’s unique referral program ‘MOR’.

Remit2India introduces Fortune Offer

The Remit2India Fortune offer introduced this month allows users to avail extra paisa on completed transactions. This offer is valid on  remittances in the following currencies USD / GBP/ AUD and EUR.

The offer slabs are:-

Currency

Transaction Amount

Extra Paise*

USD

50 – 5000

5

GBP

> = 50

15

AUD

> = 50

15

EUR

> = 50

15

This offer is not valid for transaction amount above USD 5000, however there is no upper limit for other currencies. The extra paisa benefit is payable to the beneficiary in INR only

Make the  most of this, offer ends on 4th October 2012

For more information visit bit.ly/fortunepromo

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