Outward LRS remittances rise 3.6% to $2.39 billion in May 2026: RBI | Finance News
Outward remittances under the Liberalised Remittance Scheme (LRS) for resident individuals grew 3.6 per cent year-on-year (Y-o-Y) to $2.39 billion in May 2026, driven by a surge in overseas investments, according to Reserve Bank of India (RBI) data.
The data showed that deposit-related remittances more than doubled to $118.12 million in May, compared with the same month last year. Similarly, remittances for the purchase of equity and debt investments more than doubled to $363.6 million. However, remittances for the purchase of immovable property fell 14.22 per cent Y-o-Y to $35.76 million.
The largest component, travel-related remittances under the LRS, slipped nearly 7.7 per cent Y-o-Y to $1.28 billion.
Similarly, remittances for overseas education declined 38 per cent Y-o-Y to $92.61 million, while remittances under the ‘gift’ category fell 13.6 per cent Y-o-Y to $201.5 million.
Outward remittances also increased 4.8 per cent month-on-month from $2.28 billion in April.
The LRS was introduced in 2004, allowing resident individuals to remit up to $250,000 per financial year for any permissible current or capital account transaction, or a combination of both. The scheme was initially introduced with a limit of $25,000, which has been revised upwards over time.
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