In spite of the economic uncertainties, migrant remittances have remained largely unchanged & are able to be persistent. In fact, there has been a cumulative rise in it over the years. Due to the transferring of funds, ranging up to several hundreds of billions of dollars, this has created massive opportunities for financial services companies; in developed as well as developing world as these transfers happen through bank accounts. In today’s age of globalization, movements within the labour markets are mostly directed abroad, where young people leave their country of birth & migrate to host countries, seeking better earning opportunities. This results in country of birth losing talented people & host countries gaining well trained & educated people. The only advantage country of origin get is through remittances (Adams & Page, 2003). They have become great source of income for economies as it increases the inflow of capital. Put simply, people from poor countries are going to rich countries, working there & sending a part of their income to home, resulting in increasing flow of money from rich to poor countries. This improves living standards & purchasing power of people in the countries of origin, however putting a question mark to the difference it can make. One of the possible reasons why remittances have attracted so much attention is because they are more stable than foreign currency flows. However, they definitely form a part of private welfare system that transfers purchasing power from a rich man’s pocket to a poor man’s pocket. This has a positive effect such as reduction of poverty, improved consumption, affects labour supply, working capital & has multifarious effects through increased household spending. For a significant part, studies on remittances suggest that they are used to fund consumption or investment in human capital such as education, health, better nourishment.