Outward Remittances
Outward remittances under RBI's LRS in April-January surpass FY22
The figure in FY22 was the highest ever in any financial year
 "Outward remittances under RBI's LRS in April-January surpass FY22")
DHL suspends operations in Pak amid restrictions on outbound remittances
DHL, a global logistics company announced the suspension of some of its operations partially in Pak due to the govt's restrictions on outbound remittances, Pakistan-based Dawn newspaper reported
 "DHL suspends operations in Pak amid restrictions on outbound remittances")
Indians spent nearly $10 billion on foreign travel in April-December
Before this, the highest spend on overseas travel in an entire financial year was $7 billion in 2019-20
 "Indians spent nearly $10 billion on foreign travel in April-December")
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
 "Outward remittance in April-December almost equal to FY22 figure: RBI")
Outward remittances under LRS scheme near $2 billion in Nov: RBI
International travel continued to over 50 per cent of the entire outward remittance by Indians under the scheme
 "Outward remittances under LRS scheme near $2 billion in Nov: RBI")
Outward remittance under LSR dips 28% to $1.92 bn in Oct, shows RBI data
International travel contributed over $970 million or 50 per cent of $1.92 billion remitted by Indians in October 2022
 "Outward remittance under LSR dips 28% to $1.92 bn in Oct, shows RBI data")
Outward remittances under liberalised remittance scheme jump 50% in H1
During the second quarter of FY23, remittances stood at $7.3 billion, compared to $5.2 billion a year ago
 "Outward remittances under liberalised remittance scheme jump 50% in H1")
Indians remitted $2.67 billion in August under LRS scheme, shows data
According to RBI data, in August, Indians remitted $467.52 million for overseas education, $330.70 million for maintenance of close relatives, and $221.31 million in gifts.
 "Indians remitted $2.67 billion in August under LRS scheme, shows data")
Indians remitted $6 bn in Q1FY23 under LRS scheme, shows RBI data
Spend on international travel accounts for 48% of total remittance
 "Indians remitted $6 bn in Q1FY23 under LRS scheme, shows RBI data")
At around $1 bn, travel accounts for half of outward remittances in May
According to Reserve Bank of India (RBI) data, total remittances rose by 61.8 per cent year-on-year (YoY) to $2.03 billion in May 2022 from $1.25 billion in May 2021
 "At around $1 bn, travel accounts for half of outward remittances in May")
Outward remittances under RBI's LRS surge after FY21 lull due to Covid-19
Under LRS, all resident individuals, including minors, are allowed to remit up to $250,000 in every financial yr for any permissible current or capital account transactions, or a combination of both
Remitting money abroad? Do your research to avoid getting fleeced on cost
Select a player that offers complete transparency on both the transaction fee and the exchange rate it is going to levy
 "Remitting money abroad? Do your research to avoid getting fleeced on cost")
Outward remittances cross $1 bn in Sept 2017
The money sent for travel rose to $398 million in September from $217 million a year ago
 "Outward remittances cross $1 bn in Sept 2017")
Huge outward remittances a recent phenomenon
Bankers say outward remittances is confusing but can still be attributed to perception of stability in Indian economy
 "Huge outward remittances a recent phenomenon")
