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

Banking & Finance

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.


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

     

     

Main Point :-   (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.


About RBI

Governor : Sanjay Malhotra
Headquarter : Mumbai
          ____________________________