The Remittance Market in India : Opportunities, Challenges, and Policy Options
In chapter one, this report maps the patterns and characteristics of migration flows from India; in chapter two, it provides a detailed discussion of remittance flows to India in terms of their importance, sources, uses, trends, costs, and links to...
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World Bank
2012
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| Online Access: | http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000333037_20120108235200 http://hdl.handle.net/10986/2228 |
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okr-10986-22282021-04-23T14:02:00Z The Remittance Market in India : Opportunities, Challenges, and Policy Options Afram, Gabi G. COMPETITION CONSUMER PROTECTION FINANCIAL ACCESS FINANCIAL INCLUSION MARKET GOVERNANCE MARKET TRANSPARENCY MIGRATION FLOWS PAYMENT SYSTEM INFRASTRUCTURE REMITTANCE FLOWS REMITTANCE MARKET In chapter one, this report maps the patterns and characteristics of migration flows from India; in chapter two, it provides a detailed discussion of remittance flows to India in terms of their importance, sources, uses, trends, costs, and links to financial access. In chapter three, the report describes the remittance market (the players, the regulatory framework, as well as the existing operational schemes), setting the stage for chapter four, which presents a diagnostic of the remittance market based on the General Principles for International Remittance Services (GPs). The diagnostic covers the legal and regulatory framework, payment system infrastructure, market transparency and level of consumer protection, market structure, level of competition among remittance service providers, as well as market governance. It analyzes the existing situation in India and provides detailed recommendations (including lessons learned from international best practices) that are aimed at increasing competition in the remittance industry, providing broader access to payment system infrastructure, enhancing transparency, and ensuring a sound and predictable legal and regulatory framework. Several of the actions could set a basis for leveraging remittances to achieve other important public policy goals such as broadening financial access, expanding financial inclusion, and both strengthening and deepening the financial sector. The report was prepared through (a) background research (data research and mining, literature review, collection of relevant material and information, and background research), (b) a field visit in 2009 (a team of experts visited India and conducted interviews and focus groups with all relevant stakeholders and major institutions active in the remittance market), and (c) surveys of both the authorities and the market players. 2012-03-19T08:44:02Z 2012-03-19T08:44:02Z 2012-01-09 http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000333037_20120108235200 978-0-8213-8972-0 http://hdl.handle.net/10986/2228 English Directions in Development ; finance CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank Publications & Research :: Publication Publications & Research :: Publication South Asia South Asia Asia India |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English |
| topic |
COMPETITION CONSUMER PROTECTION FINANCIAL ACCESS FINANCIAL INCLUSION MARKET GOVERNANCE MARKET TRANSPARENCY MIGRATION FLOWS PAYMENT SYSTEM INFRASTRUCTURE REMITTANCE FLOWS REMITTANCE MARKET |
| spellingShingle |
COMPETITION CONSUMER PROTECTION FINANCIAL ACCESS FINANCIAL INCLUSION MARKET GOVERNANCE MARKET TRANSPARENCY MIGRATION FLOWS PAYMENT SYSTEM INFRASTRUCTURE REMITTANCE FLOWS REMITTANCE MARKET Afram, Gabi G. The Remittance Market in India : Opportunities, Challenges, and Policy Options |
| geographic_facet |
South Asia South Asia Asia India |
| relation |
Directions in Development ; finance |
| description |
In chapter one, this report maps the
patterns and characteristics of migration flows from India;
in chapter two, it provides a detailed discussion of
remittance flows to India in terms of their importance,
sources, uses, trends, costs, and links to financial access.
In chapter three, the report describes the remittance market
(the players, the regulatory framework, as well as the
existing operational schemes), setting the stage for chapter
four, which presents a diagnostic of the remittance market
based on the General Principles for International Remittance
Services (GPs). The diagnostic covers the legal and
regulatory framework, payment system infrastructure, market
transparency and level of consumer protection, market
structure, level of competition among remittance service
providers, as well as market governance. It analyzes the
existing situation in India and provides detailed
recommendations (including lessons learned from
international best practices) that are aimed at increasing
competition in the remittance industry, providing broader
access to payment system infrastructure, enhancing
transparency, and ensuring a sound and predictable legal and
regulatory framework. Several of the actions could set a
basis for leveraging remittances to achieve other important
public policy goals such as broadening financial access,
expanding financial inclusion, and both strengthening and
deepening the financial sector. The report was prepared
through (a) background research (data research and mining,
literature review, collection of relevant material and
information, and background research), (b) a field visit in
2009 (a team of experts visited India and conducted
interviews and focus groups with all relevant stakeholders
and major institutions active in the remittance market), and
(c) surveys of both the authorities and the market players. |
| format |
Publications & Research :: Publication |
| author |
Afram, Gabi G. |
| author_facet |
Afram, Gabi G. |
| author_sort |
Afram, Gabi G. |
| title |
The Remittance Market in India :
Opportunities, Challenges, and Policy Options |
| title_short |
The Remittance Market in India :
Opportunities, Challenges, and Policy Options |
| title_full |
The Remittance Market in India :
Opportunities, Challenges, and Policy Options |
| title_fullStr |
The Remittance Market in India :
Opportunities, Challenges, and Policy Options |
| title_full_unstemmed |
The Remittance Market in India :
Opportunities, Challenges, and Policy Options |
| title_sort |
remittance market in india :
opportunities, challenges, and policy options |
| publisher |
World Bank |
| publishDate |
2012 |
| url |
http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000333037_20120108235200 http://hdl.handle.net/10986/2228 |
| _version_ |
1764385050893221888 |