₹1,700 crore lost in fees: Why sending money abroad for studies is costing more than you think
A study reveals Indian families sending children abroad for education lose ₹1,700 crore annually due to hidden bank charges and exchange rate markups. Traditional banks, handling over 95% of remittances, impose 3-3.5% markups, costing families significantly. As overseas education spending rises, these fees will have a greater financial impact.
|