 "Flow of money into NRI deposits till February moderates sharply, shows data")
The flow of money into deposits of non-resident Indians (NRIs) moderated to $2.3 billion during April 2021-February 2022 from $8.88 billion in the year-ago period.
The outstanding deposits were down to $139.58 billion at the end of February 2022 compared with $142.35 billion a year ago, according to the Reserve Bank of India data.
The foreign currency or FCNR deposits saw the maximum contraction. They declined from $22.09 billion in February 2021 to $17.29 billion in February 2022.
The money in rupee-denominated NRE deposits remained constant around $101 billion in February 2022 compared with a year ago. In contrast, the money into non-resident ordinary accounts rose from $18.46 billion in February 2021 to $21.17 billion in February 2022.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%