Travelling abroad has caught the fancies of upwardly mobile Indians. The traveling is fuelled by eagerness to explore new cultures, destinations, shopping and lifestyle. United States and Europe are prime long distant destinations while south East Asia and Indian sub-continent are most favoured near destinations. Dubai, for Indians has become the week end destination for travelling abroad.
The discerning few travel to South America and the remote Scandinavian countries. By far New York, Los Angles, Paris, London, Istanbul, Frankfurt, Rome, Singapore, Hong Kong, Bali, Male are the major cities that are part of itinerary of Indians now.
The International travel is given phenomenon for not only leisure travel but business and student travel is also a growing phenomenon.
With students studying abroad and a growing trend of investments abroad, there is growing need to send money abroad. The Reserve Bank of India (RBI) has also liberalised the process of sending money out of India. Now for the provided purposes, one can send up to USD 250,000 per year with minimum paper work.
There are various service provides who help fulfilling this demand of customers. The prime among them are banks like Axis Bank, ICICI Bank, HDFC Bank, Yes Bank, IndusInd bank, Kotak Mahindra Bank, State bank of India (SBI) and others. In the non-banking space, we have Thomas Cook, Western Union, UAE Exchange and more.
Entirely the process of sending money out from India is offline while there has been some progress by few entities wherein a hybrid model is in place. Going forward, we see a host of service providers aiming at providing a completely online way to send money out of country. The advent of aadhaar number authentication helps push this cause forward.
An Ivy League degree is a dream come true for most of the student across the world. There are growing number of students now go out to other countries and in Universities in United States, United Kingdom, Australia, Germany, Canada and China.
The charm of an international graduation start from better quality of education, better opportunities, good earning potential and better career prospect. Add to it, the other benefits include a chance of gaining permanent residency in the country of graduation and work.
One of the fundamental principles for students to decide on the universities is comparison of the university. KenzNow provides a comparison of various international universities by comparing ranking of various rating agency at one place.
It is an expensive affair to have an overseas education qualification. The money required runs into thousands of US Dollars. To overcome this predicament there are educational loans and various scholarships available for students desirous of studying abroad.
In India banks like State Bank of India, ICICI Bank, Axis Bank, HDFC Bank, Yes Bank, IndusInd bank, Bank of India and more, provide student loans at an affordable rates. New age players like HDFC Cedilla have also entered into the market which provides such loans.
Scholarships are mostly provided by the foreign universities and are based on the academic qualifications coupled with GRE/GMAT/SAT scores of the candidate. There are some charitable organisations as well who provide these scholarships but they may be restricted to some particular courses or courses in certain fields.