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NRI bank deposits in India surged 42.8% to $13.33 billion in 2024, fueled by higher interest rates.
Non-resident Indian (NRI) bank account deposits saw a 42.8% increase to $13.33 billion between April and December 2024, compared to $9.33 billion in the same period in 2023.
Total outstanding NRI deposits rose to $161.8 billion by December 2024, up from $146.9 billion the previous year.
Foreign Currency Non-Resident (FCNR) deposits saw the highest inflow at $6.46 billion, while NRE deposits attracted $3.57 billion.
The Reserve Bank of India raised the interest rate ceiling on FCNR-B deposits to bolster foreign currency inflows and support the rupee.
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Los depósitos bancarios de NRI en India aumentaron 42,8% a 13.330 millones de dólares en 2024, impulsados por tasas de interés más altas.