BANKING AFFAIRS

BANKING GENERAL KNOWLEDGE

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
According to the World Bank report, India will retain its position as the world’s top recipient of remittances in 2018 with its diaspora sending a whopping____back home.
A
USD 93 billion
B
USD 72 billion
C
USD 100 billion
D
USD 80 billion
Explanation: 

Detailed explanation-1: -India was followed by China (USD 67 billion), Mexico (USD 36 billion), the Philippines (USD 34 billion), and Egypt (USD 29 billion). India retained its position as the world’s top recipient of remittances with its diaspora sending a whopping USD 79 billion back home in 2018, the World Bank said in a report Monday.

Detailed explanation-2: -India, world’s top recipient of remittances, received $100 billion in 2022; check out other names.

Detailed explanation-3: -Explanation: India is the world’s largest recipient of remittances, receiving USD 87 billion in 2021 with the United States being the biggest source, accounting for over 20 % of these funds, according to the ‘World Bank’s Remittance Prices Worldwide Report.

Detailed explanation-4: -India received 87 billion dollars in remittances in 2021, the top remittance recipient, and way ahead of countries like China and Mexico, according to a World Health Organisation report released on Wednesday.

Detailed explanation-5: -The top five recipient countries for remittances in 2022 are expected to be India, establishing a benchmark of $100 billion in the year, followed by Mexico with a tally of $60 billion (which replaced China in second position during 2021), and China, the Philippines, and the Arab Republic of Egypt.

There is 1 question to complete.