International transactions through debit cards, credit cards, or UPI attract forex markup charges between 2% and 6% apart from 18% GST. This makes it quite lucrative for banks, card networks, and the NPCI. But the same cannot be said about customers.
International travel has opened up in full swing in countries across the globe except China ever since the pandemic-era restrictions were lifted. For Indians looking to travel abroad, even the waiting period for UK and Schengen visas are coming down gradually. While the number of Indians visiting Asian destinations has picked up in the last quarter, this figure is expected to rise further in 2023 with more travellers from the country flocking to
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