Remittances for education declines as Indian students reassess costs and destinations

In FY25, outward remittances under the Liberalised Remittance Scheme (LRS) for studying abroad fell 16 per cent to $2.91 billion compared with the previous year. Remittances for education have been steadily declining since the Covid peak of $5.16 billion recorded in FY22. This sustained drop reflects changing financial strategies, shifting destination preferences and a recalibrated…

President Donald Trump pardons former Virginia sheriff Scott Jenkins convicted of fraud and bribery

US President Donald Trump has issued a pardon to a former Virginia sheriff who was convicted on fraud and bribery charges. A jury found former Culpeper County Sheriff Scott Jenkins guilty of accepting more than $75,000 (£55,000) in bribes last December, in exchange for making several businessmen into law enforcement officers without them being trained….

Worldline gets RBI nod to facilitate cross-border online transactions for import-export

Digital payments firm Worldline ePayments India Private Limited on Tuesday announced that it has received authorisation from the Reserve Bank of India (RBI) to operate as an Export-Import Payment Aggregator – Cross-Border. According to a statement from its parent firm Worldline India, this authorisation enables Worldline ePayments India to facilitate cross-border online transactions for the…

Finance Minister Nirmala Sitharaman visits Noida-headquartered Fintech firm Pine Labs’ office

Finance Minister Nirmala Sitharaman today (Tuesday, May 27, 2025) visited the office of Pine Labs, a Noida-based digital Fintech company.  During her visit, she saw demonstrations by Pine Labs on innovative Fintech solutions being developed around prepaid instruments, the Account Aggregator (AA) framework, and digital services used in the Public Distribution System (PDS) and other…