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RBI Data Outward Remittances Under LRS Drop 10 Percent to USD 22.82 Billion in 9MFY25.

Banking & Finance | Dated: 22 Feb 2025

According to the latest data from the Reserve Bank of India (RBI), outward remittances under the Liberalised Remittance Scheme (LRS) declined by 10.15% Year-on-Year (Y-o-Y) to USD 22.82 billion during the nine months (April to December) of the Financial Year 2024-25 (9MFY25), compared to USD 24.80 billion in 9MFY24.

🎯 Key Highlights:

  • - The data highlighted a decline in outward remittances across major segments, including deposits, maintenance of close relatives, and the international segment, among others.

💡 Other Important Facts:

  • (i) As per RBI data, outward remittances increased by 3.3% Y-o-Y in the 3rd Quarter (October-December) of FY25 to USD 6,670.4 million compared to the same period last financial year.
  • (ii) The RBI data also revealed that remittances for the maintenance of close relatives dropped by approximately 25.2% to USD 2,757 million, while remittances for gifts decreased by 21.38% to USD 2,215.5 million.

📚 Test Your Knowledge:

According to the recent RBI data, what was the percentage decline in outward remittances under the Liberalised Remittance Scheme (LRS) in 9MFY25?

Correct Answer: 10%

🚀 Quick Recap:

About RBI

  • Governor : Sanjay Malhotra
  • Headquarter : Mumbai