Flows into NRIs deposits moderate to $1.43 billion in Apr-Aug period

The flow of money into non-resident Indian (NRI) deposits moderated to $1.43 billion in April-August 2022, from $2.44 billion in April-August 2021.

Outstanding NRI deposits declined to $134.68 billion at the end of August 2022 from $141.52 billion a year ago. Sequentially, NRI deposits also shrank from $139.02 billion in March 2022 and 135.39 million in July 2022, according to Reserve Bank of India (RBI) data.

Money into Foreign Currency Non-Resident (FCNR) deposits declined from $19.33 billion in August 2021 to $16.01 billion in August 2022. FCNR-B deposits were at $16.91 billion in March 2022 and $15.87 billion in July