RBI: Indians spent ₹10,431 crore overseas in March

The Reserve Bank of India’s March 2026 outward-remittance data showed resident Indians spent $1.09 billion, or about ₹10,431 crore, on overseas travel in March. The figure came from the central bank’s monthly “Outward Remittances under the Liberalised Remittance Scheme for Resident Individuals” series, which tracks money sent abroad across categories including travel, education, investment and maintenance of relatives. The March travel number was down from $1.3 billion in February and $1.65 billion in January, according to reports citing the RBI data. Total outward remittances under the scheme stood at $2.59 billion in March. ### Where does the ₹10,431 crore figure come from? The ₹10,431 crore figure is the rupee equivalent of the RBI’s March travel outflow of $1.09 billion. Media reports published on May 24 cited the RBI’s monthly LRS data and converted the dollar amount into rupees in headlines and social posts. The underlying RBI series reports remittances in U.S. dollars, not rupees. (ptinews.com) March 2026 is the latest month referenced in the RBI’s LRS tables surfaced in the central bank’s search results. The RBI search page lists separate monthly entries for January, February, March and April 2026 under the same LRS heading, indicating the data is published as a recurring monthly release. ### What counts as “overseas travel” in the RBI data? The RBI’s travel bucket covers multiple purposes, not only leisure trips. (ptinews.com) Reports citing the March table said the category includes business travel, pilgrimage, medical treatment, travel for education and “other travel.” The Liberalised Remittance Scheme itself allows resident individuals to remit up to $250,000 per financial year for permitted current or capital account transactions. (rbi.org.in) The RBI’s master direction says the scheme applies to resident individuals, including minors, and is used for a range of permissible overseas payments and investments. ### Which part of travel spending was the biggest in March? (tribuneindia.com) The March 2026 breakdown showed “other travel” at $623.05 million, making it the largest component of travel remittances for the month. Reports described that sub-category as including holiday trips and international credit card settlements. Education-related travel was the second-largest piece at $450.16 million in March. (rbi.org.in) Spending on business travel, pilgrimage and medical treatment together totaled $21.39 million, according to reports based on the RBI release. ### How did March compare with earlier months? March travel remittances fell by $212.43 million from February’s $1.3 billion level, according to the May 24 reports. (indianexpress.com) January had been higher still at $1.65 billion. Business Standard, citing RBI data, reported that international travel accounted for more than half of all outward remittances under the scheme in March, but was down 2.75% from March 2025. (theweek.in) The same report said overall outward remittances in March were $2.59 billion, up 1.86% from a year earlier. ### Why is this reported under the Liberalised Remittance Scheme? (ptinews.com) The RBI introduced the Liberalised Remittance Scheme in February 2004 as a framework for resident individuals to send money abroad for permitted transactions. The central bank’s master direction says authorized dealers may allow remittances of up to $250,000 in a financial year under the scheme. The RBI’s website shows the LRS remittance tables are updated monthly. (business-standard.com) Readers looking for the next data point will need the next RBI monthly release, which will add April 2026 category-wise outflows to the same series. (rbi.org.in 1) (rbi.org.in 2)