Outward Remittances

Outward remittances under LRS drop 10% to $22.82 bn in 9MFY25: RBI

Outflows under the scheme were impacted by deposits, maintenance of close relatives, and the international travel segment, among others

Outward remittances under LRS rise 10.6% in October, shows RBI data

In the August-October quarter of financial year 2024, Indians remitted $8.37 billion overseas, compared to $9.05 billion during the same period last year

Outward remittances under LRS drop 14.88% in H1FY25, shows RBI data

The remittances for maintenance of close relatives fell by 37.17 per cent Year-on-Year (YoY) to $1.92 billion as compared to $3.05 billion

International travel drives outward remittance under LRS to $2.7 bn in July

Investments in equity and debt schemes surged by 108 per cent to $120.86 million from $58.06 million

Remitting large amount abroad? Pay TCS, declare income accurately

Maintain detailed records of foreign remittances, including purpose, amount, and beneficiary details

Outward remittances under RBI's LRS drop 24% to $6.9 billion in Q1 FY25

In June 2024, overall remittances fell around 44 per cent Y-o-Y to $2.18 billion amid a decline in remittances across categories

Wise Payments eyes more of India's $32 billion in overseas remittances

Major lenders like ICICI Bank Ltd. and State Bank of India have dominated the outbound remittance market in India

Outward remittances fell 16% in May due to increase in TCS: RBI bulletin

Remittances under the scheme stood at $2.42 billion in May 2024

Outward remittances under LRS dips 2% in April, says RBI bulletin

According to the latest Reserve Bank of India (RBI) bulletin, the remittances under the scheme stood at $2.28 billion in April 2024, 1.98 per cent below $2.33 billion in April 2023

Check mid-market exchange rate in global currency when sending money abroad

Ensure the money transfer provider is a licensed entity

Outward remittances under LRS hit new high of $31.73 bn: RBI data

The remittances have seen a continuous increase in the last 10 years owing to improved per capita income in the country

Outward remittances hit new high at $29 billion in April 2023-February 2024

In February 2024, the outward remittances stood at $2.01 billion, which was 23% lower than $2.62 billion in January 2024

Outward remittances under Reserve Bank of India's LRS up 27% in Apr-Jan

Overseas remittances in January 2024 stood at $2.62 billion, nearly 9 per cent higher than $2.40 billion in December 2023

Outward remittances under LRS rise 20% to $24.80 billion in 9MFY24

The outflows under the scheme were mainly driven by the international travel segment, equity and debt investments, maintenance of close relatives, among others

Outward remittances under RBI's LRS scheme dropped 60% in October

In the August-October quarter of financial year 2024, Indians remitted $9.05 billion overseas, as compared to $7.26 billion in the second quarter of FY24

Outward remittances under RBI's LRS rose 26% in Q2FY24, shows data

In September 2023, Indians remitted $3.50 billion overseas, compared to $2.67 billion in September 2022

Equity, debt markets helped outward remittance rebound in August

The overall remittances increased by 43 per cent from July

Outward remittances surge to $ 2.9 billion in May, shows RBI data

People in India spent close to $1.5 billion on international travel in May, against $1.10 billion in April

Outward remittances under LRS scheme fall slightly in April to $2.33 bn

However, on a year-on-year (YoY) basis, outward remittances under LRS in April were up 15.23 per cent

Your credit card payments overseas will attract a 20% TCS from July 1

For every $100 you spend abroad using your international credit card, you will need to fork out $120 and then claim it when you file your tax return