LRS outflows up over 10% in March led by travel demand

Indians remitted $2.59 billion overseas in March 2026 under the Reserve Bank of India's Liberalised Remittance Scheme (LRS), a 10.9% jump from $2.34 billion in the previous month, but lower than the $2.68 billion recorded in January, RBI data showed.

Travel remained the single largest category of outward remittances, accounting for $1.09 billion in March, and lower than the $1.31 billion in February and $1.66 billion in January, suggesting a seasonal moderation after the peak travel months.

Investment in equity and debt saw a sharp uptick, rising by 65.5% to $440 million in March 2026 from $266 million in February. Deposits abroad recovered sharply to $176 million in March 2026, up from $56.9 million in February and $48.6 million in January.


Remittances for studies abroad moderated to $151.7 million in March from $267.4 million in January, the latter number likely reflecting the January semester commencement cycle when fee payments are typically concentrated.