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Flow of money into NRI deposits till February moderates sharply, shows data

The foreign currency or FCNR deposits saw the maximum contraction

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The money in rupee-denominated NRE deposits remained constant around $101 billion in February 2022 compared with a year ago

Abhijit Lele Mumbai

1 min read Last Updated : Apr 20 2022 | 2:17 AM IST

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

Topics : NRI deposit

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