The money flowing into Non-resident Indians’ (NRIs) deposits in the first 10 months of the financial year show a swell from $5.96 billion – almost a year ago – to $10.1 billion. The annual trend pictures NRI deposits growing from $136.82 billion at the end of January 2023.

A record of outstanding NRI deposits reveals a rise at the end of January 2024 – from $146.90 billion in December last year to $147.73 billion now – up by $823 million.

Non-Resident Ordinary (NRO) deposits had touched $26.74 billion in January this year, up from $26.40 billion in December last. It was $23.12 billion, same time a year ago.

The amount flowing into foreign currency non-resident (FCNR) accounts from April 2023 to January 2024 had also increased from $1.28 billion – a year ago – to $4.15 billion.

This January, non-resident external deposits were at $97.46 billion, a little dip from $97.69 billion in December 2023. – editor@nrifocus.com