Finance Remittances to India likely to decline by 23% in 2020 due to COVID-19: World Bank Updated : April 23, 2020 07:55 AM IST Remittances are a vital source of income for developing countries. Remittance flows are expected to fall across all World Bank Group regions, most notably in Europe and Central Asia. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.