India Outward Remittances Rise to 2.4 Billion in May

The Reserve Bank of India reported that outward remittances under the Liberalised Remittance Scheme for resident individuals rose 3.6% year-on-year to USD 2,396.42 million in May 2026. This figure marks a 4.8% recovery from April 2026, though it did not reach the March 2026 level of USD 2,594.87 million. Cumulative outward remittances for the 2025-26 financial year totaled USD 28,979.36 million.

Travel remained the leading category of remittance at USD 1,282.63 million, despite a 7.6% decrease compared to May 2025. Other sectors saw significant growth; outflows for overseas equity and debt investments surged to USD 363.64 million from USD 104.94 million in the previous year. Additionally, foreign bank deposits increased to USD 118.12 million.