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India receive highest foreign remittances: World Bank report

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India receive highest foreign remittances: World Bank report

For the third consecutive year, India has retained the top spot as the highest recipient of expat remittances globally in 2017, with $69 billion, followed by China, Philippines, Mexico, Nigeria and Egypt.

According to World Bank report issued on Monday, “Remittance inflow improved in all regions and the top remittance recipients were India with ($69 billion, followed by China with $64 billion, the Philippines ($33 billion), Mexico ($31 billion), and Egypt ($20 billion).”

The report- “Migration and Development Brief” say that the remittances to India in 2017, which was 9.9 per cent, reversed the previous year’s sharp decline. The World Bank has predicted that the global remittances are expected to grow 4.6 per cent to $642 billion this year.

Read More: Dubai compares disciplined Indians to criminal Pakistanis

Dilip Ratha, the lead author of the report has stated, “The overall recovery in remittances is better than we expected. It is driven by stronger growth in the European Union, the Russian Federation, and the United States. The rebound in remittances, when valued in U.S. dollars, was helped by higher oil prices and a strengthening of the Euro and Ruble.”

He added, “The global average cost of sending $200 was 7.1 per cent in the first quarter of 2018. The cost ranges from the most expensive average cost of 9.4 percent in Sub-Saharan Africa, to the lowest average cost of 5.2 percent in South Asia. The average cost is higher than the Sustainable Development Goal target of 3 percent in all regions.”

 He argued for reducing the money transfer cost so that families receive more of the money. “Eliminating exclusivity contracts to improve market competition and introducing more efficient technology is high-priority issues” he added.

Gulf News reports that due to higher oil prices, money transfers to low- and middle-income countries are again on the rise, reaching nearly $500 billion in 2017.

Read More: Indian man wins Dh12 million lottery in UAE

UAE’s monetary authority has recently revealed that India was the top remittance receiving nation from migrant workers living in the country in the fourth quarter of 2017.

According to Ministry of External Affairs, there are approximately 30.8 million Indian diaspora residing outside India. The highest remittances come from Gulf countries where millions of Indian labourers are engaged.

Cricket news

Who is the best T20 player right now? Harbhajan picks THIS cricketer over Head, Abhishek and McGurk

Nicholas Pooran has earned Harbhajan Singh’s vote as the best T20 batter right now, ahead of Travis Head and Abhishek Sharma, after a fiery IPL 2025 start.

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Nicholas Pooran, Harbhajan Singh, who is best T20I batter, Travis Head, Abhishek Sharma, Jake Fraser-McGurk,

Former India spin legend Harbhajan Singh, now part of the IPL 2025 commentary panel, has weighed in on one of T20 cricket’s most debatable questions—who is the best T20I batter right now?

Is it Australia’s in-form explosive opener Travis Head, India’s rising star Abhishek Sharma, or the ultra aggressive Jake Fraser-McGurk? No, says Harbhajan.

His pick? Nicholas Pooran

The former off-spinner declared his choice on social media after Nicholas Pooran’s latest blitz for Lucknow Super Giants (LSG) in IPL 2025. “Currently Nicholas Pooran is the best player of T20 format. Period!” he posted on X.

Presenting the batter’s T20I stats, Harbhajan declared Pooran as the best T20 player in the world right now, following his electrifying start to IPL 2025 with Lucknow Super Giants (LSG).

Continuing his red-hot form, the 29-year-old West Indian has smashed 145 runs in just two matches, including a 26-ball 70 against Sunrisers Hyderabad and a 75 from 30 balls vs Delhi Capitals. He currently holds the Orange Cap, with a strike rate of 258.92 and average of 72.50.

After his destructive knock against SRH, Nicholas Pooran has became the second player after KL Rahul to score over 1000 runs for LSG. He reached the milestone in just 31 matches, averaging 45.54 at a destructive strike rate of 184.53.

Known for his effortless power-hitting, Pooran holds the record for the most IPL fifties scored in under 20 balls—doing so four times, more than any other player. He recently smashed an 18-ball half-century, second-fastest for LSG, only behind his own 15-ball effort from IPL 2023.

When it comes to speed, Pooran leads again—holding the record for most IPL fifties in under 20 balls (4). Travis Head and Fraser-McGurk have managed this feat three times each.

In a tournament full of hard-hitters, Pooran isn’t just keeping pace—he’s setting it.

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India News

Justice Yashwant Varma transferred to Allahabad High Court amid row

Justice Yashwant Varma has been transferred from the Delhi High Court to the Allahabad High Court, with the Centre formalising the move amid a continuing cash stash controversy.

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Justice Yashwant Varma transferred to Allahabad High Court

The Central government has approved the transfer of Delhi High Court judge Justice Yashwant Varma to the Allahabad High Court, following the recommendation of the Supreme Court collegium. The decision, formalised by the Union Law Ministry on Thursday, comes amid ongoing controversy over an alleged cash stash incident linked to the judge’s residence.

“In exercise of the power conferred by clause (1) of Article 222 of the Constitution of India, the President, after consultation with the Chief Justice of India, is pleased to transfer Shri Justice Yashwant Varma… to be a Judge of Allahabad High Court,” stated the official notification.

The Supreme Court had earlier clarified that the transfer was not related to the ongoing inquiry into the alleged cash discovery at Justice Varma’s official bungalow, where a fire reportedly destroyed a substantial amount of money. The judge has denied the allegations, calling them baseless and part of a conspiracy.

Protests and criticism over transfer decision

The decision has triggered protests by lawyers in the Allahabad High Court, who have objected to what they perceive as a pattern of sending judges to their court as a punitive measure. They argue that such transfers reinforce a negative perception of the court being used as a “dumping ground.”

Former Attorney General of India Mukul Rohatgi also voiced concern over the matter, suggesting the transfer appears linked to the controversy surrounding the alleged cash stash. “There are several loose ends in this case… I don’t think there is any great thing in saying that the transfer is not connected to the scam,” he said, questioning the Supreme Court’s statement distancing the move from the investigation.

Justice Varma, in a response submitted to the committee formed by Chief Justice of India Sanjiv Khanna, described the allegations as damaging to his reputation. “In the life of a judge, nothing matters more than reputation and character. That has been severely tarnished and irreparably damaged,” he wrote.

The controversy continues to stir debate within the legal community, even as Justice Varma prepares to assume his new position at the Allahabad High Court.

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India News

Fire breaks out at Greater Noida girls’ hostel, video shows students jumping off balconies

Several students managed to self-evacuate before emergency crews arrived. Officials emphasized that while the situation caused significant distress, swift community and firefighter response averted greater tragedy.

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A fire broke out at Annapurna Girls’ Hostel in Greater Noida’s Knowledge Park-3, triggering panic as flames rapidly engulfed parts of the building. The blaze, caused by an air conditioner explosion, sent thick smoke billowing from the windows as terrified residents scrambled to escape.

Eyewitnesses described terrifying moments as students scrambled to safety. “We suddenly heard a loud bang, and within seconds, smoke started filling the corridors,” recounted one resident who wished to remain anonymous. “Everyone started running for the exits, shouting and calling for help.”

The most dramatic moments came when two students found themselves trapped on the second floor, cut off by the rapidly spreading fire on Thursday evening. Quick-thinking locals immediately sprang into action, procuring a ladder to assist in their rescue. In a heart-stopping moment captured by bystanders, one of the girls fell approximately 10 feet while attempting to reach the ladder, landing hard on the ground below. Miraculously, fire officials later confirmed she sustained only minor bruises and was declared out of danger after a medical examination.

Fire department teams arrived within 15 minutes of receiving the distress call. “Our personnel worked swiftly to contain the blaze and ensure all students were accounted for,” said Chief Fire Officer Pradeep Kumar Choubey. “By the time we arrived, most residents had already evacuated thanks to the efforts of local residents.”

Authorities have launched a thorough investigation into the incident, with preliminary findings pointing to an electrical malfunction in the AC unit. The hostel management has come under scrutiny for fire safety compliance, particularly regarding emergency exits and fire extinguisher availability.

While no serious injuries were reported, the incident has raised serious questions about safety standards in student accommodations across the rapidly developing educational hub of Greater Noida. Local officials have promised stricter enforcement of fire safety regulations in the wake of the near-tragedy.

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