$30 billion outflows in FY25: RBI to review remittance scheme

RBI to review remittance scheme - The Reserve Bank of India (RBI) is undertaking a comprehensive review of its Liberalized Remittance Scheme (LRS), which saw outflows of approximately $30 billion in FY25. The central bank is reassessing the scheme's legal framework, annual limits, permitted purposes, and payment modes. This review is part of a broader effort to tighten oversight, rationalize the facility, and promote the internationalization of the Indian Rupee, with a revised framework and amendments to foreign exchange rules and regulations currently underway.