International Family Remittance Day
Tags: Important Days
Every year, International Family Remittance Day is observed by the United Nations on 16 June.
The day is celebrated to honour the efforts of expatriates living abroad and to help improve the lives of their family members in their home country.
The first International Family Remittance Day was observed in 2015.
The day encourages the public sector and the private sector to formulate policies for the betterment of migrants and encourage remittances.
The theme of this year's International Family Remittance Day is 'Recovery and Resilience through Digital and Financial Inclusion'.
What is Remittance?
Remittance is money that is sent to another party (usually from one country to another). The sender is usually an immigrant and the recipient belongs to a community/family.
In other words, remittance or remittance refers to the income sent by migrant workers to their native community/family in the form of money or kind.
India is the largest recipient of remittances or remittances in the world.
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