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FCNR deposits saw an inflow of over $1.10 billion, up from $524 million a year ago, bringing the total outstanding to $26.8 billion
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NRO deposits also experienced a significant increase, with $481 million in inflows, compared to $109 million during the same period last year, raising the total outstanding to $28 billion
Non-Resident Indian (NRI) deposits experienced a significant increase, with close to $3 billion flowing into various schemes in April-May FY25. This amount is more than four times the deposits seen in the same period last year, as per the latest data from the Reserve Bank of India (RBI).
During this period, inflows into NRI deposit schemes totaled $2.72 billion, a substantial rise from the $623 million recorded in April-May of the previous fiscal year. As of the end of May, the total outstanding NRI deposits stood at $154.72 billion.
May alone witnessed $1.7 billion in inflows into NRI schemes, an increase from $1.07 billion in April. The NRI deposit schemes include Foreign Currency Non-Resident (FCNR) deposits, Non-Resident External (NRE) deposits, and Non-Resident Ordinary (NRO) deposits.
The NRE deposits attracted the highest inflows during April-May FY25, with $1.13 billion, compared to an outflow of $10 million in the same period last year. The total outstanding NRE deposits now approach $100 billion
Similarly, FCNR deposits saw an inflow of over $1.10 billion, up from $524 million a year ago, bringing the total outstanding to $26.8 billion. NRO deposits also experienced a significant increase, with $481 million in inflows, compared to $109 million during the same period last year, raising the total outstanding to $28 billion.
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