Summary:

NRI deposit inflows surged 42.8% to Rs. 1,15,477 crore (US$ 13.33 billion) between April December 2024, up from Rs. 80,825 crore (US$ 9.33 billion) in 2023. Total outstanding deposits hit Rs. 14,01,673 crore (US$ 161.8 billion), with FCNR deposits leading inflows, driven by higher interest rates and currency stability. NRE deposits saw inflows of Rs. 30,926 crore (US$ 3.57 billion) during April–December 2024, up from Rs. 25,209 crore (US$ 2.91 billion) in 2023, with total outstanding at Rs. 8,62,488 crore (US$ 99.56 billion). NRO deposits rose to Rs. 28,501 crore (US$ 3.29 billion), driven by interest rates and remittances.

Source: IBEF

 Disclaimer: The information on this website comes from the India Brand Equity Foundation (IBEF), a reliable source for thorough insights into numerous areas of the Indian economy. While we aim to offer accurate and up-to-date information, the views, opinions, and analyses stated herein are solely those of the authors and contributors and do not necessarily represent IBEF's official stance or position. Readers should check information from credible sources and use their own discretion when relying on content provided on this site. We assume no responsibility or liability for the supplied content, including its accuracy, completeness, and usefulness.