News > Outward remittances under LRS dips 2% in April, says RBI bulletin

Outward remittances under LRS dips 2% in April, says RBI bulletin

According to the latest Reserve Bank of India (RBI) bulletin, the remittances under the scheme stood at $2.28 billion in April 2024, 1.98 per cent below $2.33 billion in April 2023. In the reported month, remittances for the maintenance of close relatives dropped to $391.69 million compared to $449.38 million in the year-ago period. Deposit-related remittances declined by 29.7 per cent year-on-year (Y-o-Y) to $72.67 million from April 2023.