Flows into NRI deposits up 76% to $5.4 billion in April-December

Outstanding amounts stable in December compared to November

The flow of money into deposits of Non-Resident Indians (NRIs) rose 76 per cent to $5.4 billion in April-December this financial year over $3.07 billion in the same period 2021.

However, the streak of decline in outstanding NRI deposits (what is shown in the ledger but not in the bank statement) continued during the nine months of 2022-23. They fell to $134.5 billion in December 2022 from $139.02 billion in March and $141.90 billion a year ago. They were stable in December compared to $134.6 billion in November, showed the Reserve Bank of India (RBI) data.

Bankers have said flows