India has been into the record books again this time in terms of the remittances received by the World Bank. The developing country is expected to gain $70 billion in remittances this year in 2012 being the biggest recipient among several others. The total remittances World Bank is expected to pay out is $406 billion.

China follows India closely while the remittal stands at $66 billion, distantly followed by Mexico and Philippines with $24 billion each, the bank mentioned in a report.

In total the World Bank is expected to pay out $534 in remittances to all the nations, developing and high-income, the new report of the World Bank on Global Migration and remittances mentioned.

Nigeria ($21 billion), Egypt ($18 billion), Bangladesh and Pakistan $14 billion each, Vietnam ($9 billion) and Lebanon ($7 billion) form the other big members on the list of high remittances.

(AW- Anil)