May outward remittances just shy of $1 bn, up from $847 in year-ago period

Over $364 million went for travel, followed by $248.8 million for maintenance of close relatives and $178 million for education

Indian residents sent close to $1 billion abroad in May 2018 under the Liberalised Remittance Scheme (LRS) to meet expenses for travel, studies abroad and maintenance of close relatives etc.

In the same month last year, they had sent $847 million, according to Reserve Bank of India data.    

In April 2018, outward remittances stood at $929 million. In 2017-18, Indians sent about $11.33 billion abroad through LRS. 

A look at the pattern of spending in May 2018 shows that out of $996 million, over $364 million went for travel, followed by $248.8 million for maintenance of close relatives and