The Reserve Bank of India (RBI) has released data regarding investments made into non-resident Indian (NRI) deposit schemes by Indians living abroad. It is found that deposits amounting to $2.72 billion have been made by overseas Indians, in April-May FY25. This is four times more than the $623 million deposited around the same time last year.

The NRI deposit schemes looked into by RBI are foreign currency non-resident (FCNR) deposits, non-resident external (NRE) deposits, and non-resident ordinary (NRO) deposits.

Maximum flow was recorded in NRE deposits during April–May FY25 period. The figures stood at $1.13 billion. With this, the total outstanding NRE deposits are close to $100 billion.

With regard to FCNR deposits, over $1.10 billion flowed into this scheme, which saw $524 million in the corresponding period last year. The total outstanding now is $26.8 billion.

The trend reflected strongly in NRO deposits as well, recording a flow of $481 million as against $109 million, same time a year ago. The total outstanding is $28 billion.

The total outstanding of NRI deposits as of May is a whopping $154.72 billion, with May alone recording an inflow of $1.7 billion. – editor@nrifocus.com