Remittances from the Gulf countries have seen a marginal dip of around 4–5% in recent weeks as geopolitical tensions in West Asia prompt caution among migrant workers, forex intermediaries said. However, banks have denied any structural slowdown in inflows so far. Industry participants said the moderation is largely visible in remittances from the Gulf Cooperation Council (GCC) countries, which account for a significant share of India’s inward remittance flows. According to a recent report by IDFC First Bank, majority of India’s remittances come from the US (27.7% of gross inflows), followed by the UAE (19.2%), the UK (10.8%), Saudi Arabia (6.7%) and Singapore (6.6%).