Overview
According to data released by the Reserve Bank of India (RBI), in its monthly bulletin for June 2023, outward remittances under the RBI’s Liberalised Remittances Scheme (LRS) shot up to USD 3.89 billion (Rs 32,000 crore) while LRS outflows in the same month previous year were just USD 1.98 billion
According to latest data by 1Lattice (Prev. PGA Labs), the outward remittances from India has witnessed a growth of about 34 per cent, m-o-m in June 2023. For the past 3 years, overseas travel and leisure has had the highest share in outward remittances from India.
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