Forex

Fintech Weekly Deep Dive — India’s $41 Billion Forex Firewall | Week of July 27 – August 2, 2026 Executive Summary In eight weeks, the Reserve Bank of India has pulled off what may be the fastest capital mobilisation in Indian central banking history. The concessional forex swap facility announced on June 5, 2026 has attracted $40.82 billion in foreign currency inflows by July 31 — surpassing the entire $26 billion raised under the iconic 2013 FCNR(B) swap window, and doing it in roughly half the time. ...

International Remittances — Cross-Border Payments: Complete 101 Guide Last updated: March 2026 What are International Remittances? International remittances are cross-border money transfers - either inward (money coming into India) or outward (sending money abroad). Types Direction Purpose Inward NRI earnings, gifts, investments Outward Education, travel, investment Key Statistics (2026) Inward Remittances: $100+ billion annually Major corridors: UAE, USA, UK, Singapore Average transaction: $500-1000 How Remittances Work Traditional Channels Banks: SWIFT network Money Transfer Operators: Western Union, Xpress Money Forex Cards: Pre-loaded travel cards Digital Channels UPI International: Singapore, UAE live Wise (TransferWise): Low-cost transfers Remitly: India-focused PayPal: Global payments Regulations RBI Guidelines LRS (Liberalized Remittance Scheme) limits FEMA compliance KYC/AML requirements Reporting thresholds LRS Limits (Per Financial Year) Category Limit General $250,000 Education Based on fees Medical Based on bills Consumer Rights Transparent exchange rates Fee disclosure upfront Transaction tracking RBI grievance mechanism