Outward remittances under LRS drop 14.88% in H1FY25, shows RBI data

Quick Summary:

The remittances for maintenance of close relatives fell by 37.17 per cent Year-on-Year (YoY) to $1.92 billion as compared to $3.

Funds allocated for overseas education also declined by 12.83 per cent Y-o-Y to $1.60 billion, compared to $1.84 billion in the year-ago period.

EPFO net member addition rises 9.33% to 1.  The ‘Gift’ segment saw a substantial drop of 31 per cent Y-o-Y to $15.53 billion from $22.61 billion.

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Category: BusinessFinance

Markets: India

Topics: Indian Economy RBI Outward Remittances LRS

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-21 @ 01:41:05 (20 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 480 words

Reading Time: 3 minutes read

Sentences: 20 lines

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Copyright Owner: © Business Standard

News ID: 23724605

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