Categories: International

WB Report: India became World’s Largest Recipient of Remittances

According to the latest report by the World Bank titled ‘World Bank’s Remittance Prices Worldwide Database’, India became the world’s largest recipient of remittances by receiving USD 87 billion in 2021. The United States (US) was its biggest source, accounting for over 20% of these funds. India is followed by China, Mexico, the Philippines, and Egypt. In India, remittances are projected to grow 3% in 2022 to USD 89.6 billion.

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Important takeaways for all competitive exams:

World Bank Founded: July 1944;
World Bank Headquarters: Washington DC, USA;
World Bank President: David Robert Malpass.

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Sumit Arora

As a team lead and current affairs writer at Adda247, my role involves researching and creating informative and engaging content aimed at helping candidates prepare for national and state-level competitive government exams. I specialize in delivering insightful articles that keep aspirants updated on the latest current affairs trends and developments. My primary focus is on educational excellence, ensuring that our readers are well-prepared and informed to face their exams with confidence. Through meticulously crafted content, I aim to guide and support candidates in their journey toward success.