The total NRI deposits as on March 2013 were Rs 66,190 crore. Private sector banks mobilised major portion of the NRI deposits followed by State Bank of Travancore, according to the state economic review-2014, presented in the state assembly today.
The trend of NRI deposits increasing their share in the total deposit basket had actually began in 2011-12 and it became more pronounced in 2012-13 and further continued in 2013-14.
On economic sitation, the review said at current price the Gross State Domestic Product (GSDP) growth rate was 13.4 per cent, which was higher than the previous year.
However, the review said an analysis showed that primary sector showed a negative growth rate of minus 1.36 per cent during the year.
Also Read
The total debt of the state stood at Rs 1,19,009 crore for the year under review, with a growth rate of 14.92 per cent over the previous year.
"Change in demographic pattern of the state due to low birth rate is the main reason attributed for this phenomenon," the review said.
On migrant labour force, the report said there were more than 25 lakh migrant workers in the state with an annual arrival rate of 2.35 lakh from other states. Of the total Inter State Migrant workers, West Bnegal leads with 47 per cent of ISM, followed by Odisha by 16 per cent and Assam 9 per cent.