Recently Brad Garlinghouse, the CEO of Ripple has commented on the matter; Improving remittances services into and out of India means less fees and more money for families who rely on those funds that are sent home… This trend is increasing across payment providers and banks inside and outside of the country — further underscoring the mounting opportunity in remittances to India from around the world. "
Point to note that ripple has opened their office in Mumbai, India last year. Kotak Mahindra Bank have recently announced that they will be integrating RippleNet into all there 1300 branches across the country.
It seems Ripple has a great future in many developing countries where cross border payment cost is much likely high.
