NRI Accounts Clock 43% Jump In Funds To $13.33 Bn In Apr-Dec
Compared to $9.33 bn during the same period in 2023; Total outstanding NRI deposits have gone up to $161.8 bn at the end of Dec 2024 from $146.9 bn last year
NRI Accounts Clock 43% Jump In Funds To $13.33 Bn In Apr-Dec
Mumbai: The flow of funds from Indians working overseas into non-resident Indian (NRI) bank accounts has shot up by 42.8 per cent to $13.33 billion between April and December 2024, compared to $9.33 billion during the same period in 2023, according to the latest figures compiled by the Reserve Bank of India (RBI).
The total outstanding NRI deposits at the end of December 2024 have gone up to $161.8 billion from the corresponding figure of $146.9 billion in December 2023. NRI deposit schemes include foreign currency non-resident (FCNR) deposits as well as non-resident external (NRE) deposits, and non-resident ordinary (NRO) deposits which are held in rupees.
The highest flows to the tune of $6.46 billion came into FCNR (B) deposits during the April-December 2024 period, close to double the amount of $3.45 billion deposited in these accounts during the same period last year. The outstanding amount in FCNR(B) accounts increased to $32.19 billion at the end of December.
