Thursday , August 24 2017
Home / News / Hyderabad / Families of NRIs in Hyderabad feel pinch of demonetisation

Families of NRIs in Hyderabad feel pinch of demonetisation

Hyderabad: There are a number of families in various states of the country who are dependent on the money sent by Gulf Countries and other countries but this month several families faced severe hardship as their bread earners who are working in foreign countries could not remit the money to them through various means which they used to remit earlier, in the wake of demonetisation.

Exchange houses in India have suddenly stopped giving out money that NRIs have sent. According to a report “Seven million Indians in the Gulf remit over $70 billion each year and more. Indians who hitherto used to send money in this fashion have backed off from the exchange houses after realising the money is not being delivered. Exchange houses like Western Union, Muthoot Finance etc have downed shutters.

According to the reports received from various countries like Qatar, Saudi Arabia, Dubai, Abu Dhabi, Sharjah, Kuwait and other countries Western Union which is believed to be the easiest of all is not accepting transfer of money to India, as a result their families are facing severe financial crunch. Families of NRIs are forced to take loan to meet daily expenses while some need to cut their expenses, still are facing difficulty meeting necessary expenses.

Siasat news