NRI Deposit

This decline was primarily because of reduced inflows into Foreign Currency Non-Resident (Bank) [FCNR (B)] deposits

NRI deposit inflows fell to $1.9 billion in April-May 2025 from $2.8 billion a year earlier, with declines across FCNR, NRE and NRO categories, RBI data showed

Inflows into NRI accounts fell to $751 million in April 2025 from $1.07 billion a year ago, but total deposits rose to $165.43 billion, RBI data shows

NRI deposits in Indian banks grew 9.9% in FY25 with FCNR(B), NRE and NRO deposits all rising; total outstanding touched $164.7 billion by March-end, RBI data showed

NRIs inflows in deposits grew by $14.55 billion between April 2024 and February 2025, against $11.8 billion during the same period a year ago, according to the Reserve Bank of India (RBI)

Total outstanding NRI deposits stood at $162.7 billion

The NRI deposit schemes include foreign currency non-resident (FCNR) deposits, non-resident external (NRE) deposits, and non-resident ordinary (NRO) deposits

NRO deposits also saw inflows worth $ 2.19 billion from April-September 2024, compared to $ 1.88 billion during the same period a year ago

The total outstanding NRI deposits as of August 2024 stood at $158.94 billion

The NRI deposit schemes include foreign currency non-resident (FCNR) deposits, non-resident external (NRE) deposits, and non-resident ordinary (NRO) deposits

NRE accounts allow NRIs to manage foreign income with seamless transfers to India. The interest income is tax-exempt in India

In June, inflows into the various NRI schemes stood at $1.23 billion compared to $1.7 billion in May

In May alone, inflows into the various NRI schemes stood at $1.7 billion compared to $1.07 billion in April

FCNR deposits were at $25.73 billion in March 2024, up from $24.90 billion in February 2024. This was higher than the $19.36 billion at the end of March 2023

Non-Resident Ordinary (NRO) deposits reached a level of $26.74 billion in January 2024, up from $26.40 billion in December 2023 and $23.12 billion a year ago

Flows into Foreign Currency Non-Resident (FCNR) moved back to positive territory with $2.06 billion in April-October 2023 as against an outflow of $814 million in the same period of 2022

Outstanding deposits rise in June 23 over Dec 22

However, the outstanding NRI deposits fell from $139.02 billion at the end of March 2022 to $137.88 in March 2023

Outstanding deposits decline in Feb 2023 over Jan 2023

Outstanding deposits decline in Feb 2023 over Jan 2023