RBI: Indians’ foreign travel spends fall to $1.09 bn in March

OVERSEAS TRAVEL SPENDING by Indians, including holiday trips, declined by $212.43 million to $1.09 billion in March compared to February, according to the Reserve Bank of India’s (RBI) data.

- PRESS TRUST OF INDIA

The outward remittances for travel were at $1.3 billion in February and $1.65 billion in January this year. The RBI data on ‘Outward Remittances under the Liberalised Remittance Scheme (LRS) for Resident Individuals’ shows overseas spending by Indians under different categories, including travel, maintenance of close relatives, studies abroad, investments in equity and debt.