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.
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