Reverse remittances – Indians sending money to NRIs !

INTERrvmoneyAccording to a survey sponsored by the Chandigarh Research Institute, that surveyed 10,000 households in Punjab, 9% of households send money from Punjab to their relatives in various parts of the world. The highest amounts recorded were among households with large landholdings.

The professor who conducted the study said “Reverse remittance is an aspect of the migration story that rarely figures in statistics, but some 6000 households send money abroad to meet the needs of family landing on foreign soil, for accommodation, food, communication, clothing and transport. Not to mention the needs of young students who go abroad to gain highly valued degrees and experience in starter jobs or businesses, and who eventually turn into the NRIs who in effect begin to send money to their families in India.