Outward remittances under the Liberalised Remittance Scheme (LRS) declined 8% month-on-month to $2.13 billion in June, the latest RBI bulletin showed. Every component of outward remittances fell compared to the previous month, except investments in equity and debt abroad, which rose 98% to $206 million in June, versus $104 million in May.
Indians spent $1.2 billion on travel in June, compared with $1.4 billion in May. Expenditure on overseas education stood at $138 million in June, versus $149 million in the previous month.
The LRS, introduced by the Reserve Bank of India, permits resident individuals to remit funds abroad for specific current and capital account transactions, subject to an annual limit. As of 2025, the maximum remittance allowed under the scheme is $250,000 (approximately Rs 2.15 crore) per individual per financial year.
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