- Context: According to RBI data, Indians remitted $15.8 billion during 3rd quarter of 2016, the lowest in 18 quarters
- Reason: This reflects the flip side of the sharp fall in global crude oil prices
- If prices remain low for an extended period, the fall in remittances could prove to be more than a one-off
- Remittance is India’s most stable source of dollar inflows & a big positive for the country
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