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Outward remittance in April-December almost equal to FY22 figure: RBI

In FY22, outflows under the LRS scheme at $19.61 billion was an all-time high

Mumbai: A security personal outside Reserve Bank of India (RBI) headquarters, in Mumbai, Wednesday, June 8, 2022. (PTI Photo

On a year-on-year (YoY) basis, outward remittances under LRS in December was up 16.61 per cent. Similarly, in the nine-month period, remittances have jumped over 40 per cent YoY

Subrata Panda Mumbai
Outward remittances under the Reserve Bank of India’s (RBI’s) liberalised remittance scheme (LRS) continued its momentum in December, with Indians remitting over $2 billion during this period, latest data released by the central bank in its monthly bulletin showed.

In the nine-month period between April and December (FY23), remittances under this scheme have touched $19.35 billion, which is almost equal to the total amount remitted under this scheme in the whole of FY22.

In FY22, outflows under the LRS scheme at $19.61 billion was an all-time high. This was aided by overseas education and international travel.

Outflows under this scheme

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First Published: Feb 17 2023 | 9:30 PM IST

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