New Delhi [India], July 23 : Outward remittances under the Liberalised Remittance Scheme (LRS) for resident individuals grew 3.6 per cent year-on-year (YoY) to USD 2,396.42 million in May 2026. The total foreign exchange outflow under the scheme climbed from USD 2,313.16 million in May 2025, according to data published in the RBI Bulletin.
The data revealed that the cumulative outward remittances under LRS for the full 2025-26 financial year reached USD 28,979.36 million (USD 28.9 billion). On a month-on-month basis, the May 2026 figure reflected a recovery of 4.8 per cent from USD 2,286.59 million recorded in April 2026, though it remained lower than the USD 2,594.87 million remitted in March 2026.
Travel remained the largest single category of foreign remittances during the month, accounting for USD 1,282.63 million in May 2026, compared to USD 1,389.23 million in May 2025, down by 7.6 per cent.
Within travel-related expenditure, other travel, which included holiday trips and payments for settling international credit cards transactions, formed the largest segment at USD 831.44 million. Travel for education stood at USD 422.97 million, business travel recorded USD 13.95 million, travel for pilgrimage accounted for USD 10.13 million, and travel for medical treatment totaled USD 4.13 million.
Outflows toward overseas investments and bank deposits showed notable growth during the period. Investment in equity and debt rose significantly to USD 363.64 million in May 2026 from USD 104.94 million in May 2025.
Foreign bank deposits expanded to USD 118.12 million from USD 54.65 million over the same period. Remittances for the maintenance of close relatives dropped to USD 289.11 million from USD 322.54 million, while gifts declined to USD 201.50 million from USD 233.30 million.
Remittances for the purchase of immovable property stood at USD 35.76 million, studies abroad at USD 92.61 million, medical treatment at USD 4.92 million, and donations at USD 0.69 million.