July 25, 2025

Outward remittances from India have been reported to have decreased to $2.3 billion in May, as per the recent RBI bulletin data. The data revealed that travel expenses constituted the largest portion of these remittances, amounting to $1.38 billion, which marked an increase of $118 million from the previous month. However, these outward remittances experienced a 4.4% decrease compared to May of the previous year. In addition to travel, Indians also spent $149 million on education and $322 million on supporting close relatives during the same period. The funds flowing out of India under the liberalised remittance scheme (LRS) stood at $2.3 billion, with travel expenses making up half of it. The $1.38 billion spent on travel in May showed an increase of $118 million from the previous month, as highlighted in the bulletin data. Despite this surge in travel expenses, outward remittances slowed by 4.4% since the same time last year. Alongside travel, Indians also allocated $149 million towards education and $322 million to support close relatives during the month of May. The Economic Times provides insights on various market trends and news through its platform. You can access the latest market news, stock tips, updates on Union Budget 2025, expert advice, and more on ETMarkets. For real-time news alerts on financial markets and investment strategies, subscribe to ETMarkets on Telegram. Stay informed about top trending stocks like SBI, Axis Bank, HDFC Bank, Infosys, Wipro, and NTPC. Subscribe to ET Prime for in-depth analysis and access the Economic Times ePaper online.

Read More at Economictimes →

Tags: Outward remittances, Rbi bulletin, Lrs, Education, Travel,