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$14 bn remitted by Indians in Apr-Dec as Covid-19 restrictions ease

Travel, studies abroad lead the surge as Covid-19 restrictions ease

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Manojit Saha Mumbai
Outward remittances under the Reserve Bank of India’s Liberalised Remittance Scheme (LRS) have made a strong comeback in the current financial year after a tepid 2020-21 as Covid-led disruptions impacted the flows.

According to the latest data released by the RBI, outflows under the scheme were $13.8 billion in the first nine months of the current financial year as compared to 12.7 billion for the entire FY21.

Remittances in the last three months of 2021 were $4.9 billion, mainly due to a surge in travel and studies abroad-related remittances. Capital India, which provides foreign exchange-related solutions via its arm Remitx, said opening

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First Published: Feb 21 2022 | 11:48 PM IST

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