Rs 1,700 crore: Hidden cost of sending money abroad | Dununu.com :...

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Rs 1,700 crore: Hidden cost of sending money abroad

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Indian families sending money abroad for their children's education faced high bank fees. A report estimates they paid Rs 1,700 crore in 2024. Traditional banks charge high exchange rate markups. Digital remittances offer a cheaper alternative. India is now the largest source of international students in the US. Overseas education spending is expected to double by 2030.

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