Banking
Outward Remittance
pronounced: [O-u-t-w-a-r-d- -R-e-m-i-t-t-a-n-c-e]
Transfer of funds from India to a foreign country, governed by FEMA guidelines and the Liberalised Remittance Scheme.
Banks and authorized dealers must ensure compliance with KYC and reporting requirements.
Example
A ₹5 lakh personal loan at 10% p.a. for 3 years has an EMI of ₹16,607/month. Total payment = ₹5,97,852, of which ₹97,852 is interest.
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Last updated: 21 May 2026