Indians remit $2.7 billion overseas in August, led by travel

Outward remittances under the Liberalised Remittance Scheme (LRS) stood at $2.7 billion, with travel accounting for the largest chunk. Indians spent $1.6 billion on travel in August, from $1.7 billion in July, while $275 million were spent on maintenance of relatives. Indian citizens spent $321 million on investments in equity and debt, while $191 million on studies abroad.