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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

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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

2 min read Last Updated : Feb 17 2023 | 11:26 PM IST

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

Topics : Outward Remittances LRS RBI

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