Outward remittances in February under the Reserve Bank of India’s (RBI’s) liberalised remittance scheme (LRS) fell 23 per cent over January, latest data released by the central bank, in its monthly bulletin, revealed. In February, Indians remitted $2.1 billion under the RBI’s liberalised scheme. On a year-on-year (YoY) basis – aided by international travel – LRS jumped 15.24 per cent. Further, in April 2022-February 2023, outward remittances under LRS stood at $24.18 billion, an all-time high.
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