 "$14 bn remitted by Indians in Apr-Dec as Covid-19 restrictions ease")
Outward remittances under the Reserve Bank of India’s Liberalised Remittance Scheme (LRS) have made a strong comeback in the current financial year after a tepid 2020-21 as Covid-led disruptions impacted the flows.
According to the latest data released by the RBI, outflows under the scheme were $13.8 billion in the first nine months of the current financial year as compared to 12.7 billion for the entire FY21.
Remittances in the last three months of 2021 were $4.9 billion, mainly due to a surge in travel and studies abroad-related remittances. Capital India, which provides foreign exchange-related solutions via its arm Remitx, said opening
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