Only four channels are available to send money abroad. But each has different charges and levels of convenience
The amount of money that Indians send abroad—be it to buy an asset or to fund education—has been increasing. According to data on the website of Reserve Bank of India (RBI), outward remittances totalled $447 million in December 2015. This was also the largest amount ever to be remitted abroad in a single month. In December 2014, the amount stood at $95 million.