Outward remittances pick up pace Indians are remitting more money abroad for both personal expenses as well as investments. Outward remittances by resident Indians under the liberalised remittance scheme (LRS) have risen 34 per cent sequentially since October with outflows for family maintenance and education as well investments in equities and deposits picking up.“In the lockdown-induced slowdown phase, while the overall economy was blunted, the HNI segment wealth was relatively less impacted,” said Joydeep Sen, a consultant at Phillip Capital. “The stock market volatility was over by 23 March 2020. Now that the economy is looking upward and the stock market is near all-time high, people are stepping up discretionary (lifestyle) expenses and capital remittances for diversification of portfolio.”Indians sent abroad $1.2 billion in January under LRS, up 34per cent sequentially since October during which they remitted abroad only $938 millionUnder the LRS all resident individuals, including minors, are allowed to freely remit up to $ 2,50,000 per financial year (April – March) for any permissible current or capital account transaction or a combination of both.