Inflows into NRI deposits more than double in April 2022-January 2023

The bank accounts of non-resident Indians (NRIs) received $5.95 billion during April 2022-January 2023, more than doubling from the $2.7 billion in the equivalent period in FY22.

Also, breaking the streak of decline in outstanding amounts, NRI deposits rose to $136.81 billion at the end of January 2023 from $134.48 billion in December 2022, according to the Reserve Bank of India data.

In March they were $139.02 billion.

They were stable in December 2022 compared to $134.6 billion in November 2022.

Bankers have said inflows have increased owing to facilities like easing limits on interest rates. However, there was an