Indians remitted $2.59B overseas in March, says RBI
What's the story
Indians had remitted $2.59 billion overseas in March 2026 under the Reserve Bank of India's (RBI) Liberalized Remittance Scheme (LRS). The figure marks a 10.9% increase from the $2.34 billion recorded in February. However, it is lower than the January figure of $2.68 billion. Notably, travel spending saw a seasonal dip, while investments in equity and debt surged at that time.
Remittance breakdown
Travel remains top category
Travel continued to be the largest category of outward remittances in March, accounting for $1.09 billion. This is a decline from $1.31 billion in February and $1.66 billion in January, indicating a seasonal moderation after peak travel months. Meanwhile, investments in equity and debt saw a sharp increase of 65.5%, rising to $440 million from February's $266 million figure.
Deposit surge
Deposits abroad see strong recovery
Deposits abroad also witnessed a strong recovery, rising sharply to $176 million in March from February's $56.9 million and January's $48.6 million figures. The data shows a recovery in deposits abroad. Meanwhile, remittances for studies abroad moderated to $151.7 million in March from January's peak of $267.4 million, likely reflecting the semester cycle when fee payments are concentrated.