According to data released by the Reserve Bank of India

Solution

According to data released by the Reserve Bank of India (RBI), outward remittances under the Liberalised Remittance scheme stood at $22.08 billion during the April–January period.In January 2023 alone, the amount remitted overseas totalled $2.72 billion.    According to RBI data, in January 2023, outward remittances by Indians under the scheme for overseas education were $395.87 million.It was followed by $342.47 million for the maintenance of close relatives, and $223.22 million as gifts.