 "Reserve Bank of India, RBI")
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
