Press Esc to close
Tuesday 19 September 2017
News updated at 6:53 PM IST

NRI deposits double during April-Nov, 2012

Mumbai, Jan 13, 2013, PTI: 22:11 IST
Continuing rupee fall and higher interest rate have seen NRI deposits nearly doubling in the first eight months of 2012-13 to $11.24 billion from $6.39 billion a year ago, according to the Reserve Bank data.

However, the non-resident (ordinary) rupee accounts and foreign currency non-resident accounts saw an outflow this year as against an inflow last year, according to the central bank data.

It can be noted that, following the rupee fall in December 2011, the RBI had deregulated interest rates on NRI deposits, forcing banks to hike rates of such deposits sharply, which now hover over 10 per cent, while banks were lowering rates for domestic deposits.

Go to Top

Photo Gallery
The mortal remains of Marshal of the Indian Air Force Arjan Singh being taken on a gun carriage...

The mortal remains of Marshal of the Indian Air Force Arjan Singh being taken on a gun carriage...

In this undated file photo distributed on Saturday, Sept. 16, 2017, by the North Korean government..

In this undated file photo distributed on Saturday, Sept. 16, 2017, by the North Korean government..

Anganwadi workers raise slogans during a protest over their various demands in Srinagar on Monday.

Anganwadi workers raise slogans during a protest over their various demands in Srinagar on Monday.

Models from 42 countries participating in the Face of Beauty International 2017 contest, pose...

Models from 42 countries participating in the Face of Beauty International 2017 contest, pose...

Models from 42 countries participating in the Face of Beauty International 2017 contest, pose...

Models from 42 countries participating in the Face of Beauty International 2017 contest, pose...

Flooding around the Aluva Siva Temple in Kochi on Monday, as heavy rain continues to lash...

Flooding around the Aluva Siva Temple in Kochi on Monday, as heavy rain continues to lash...

BJP National President Amit Shah outside a court in Ahmedabad on Monday to depose as defence...

BJP National President Amit Shah outside a court in Ahmedabad on Monday to depose as defence...

A villager shows the tail of a mortar shell allegedly fired from the Pakistan side of the...

A villager shows the tail of a mortar shell allegedly fired from the Pakistan side of the...

People hold placards during a protest against what they say is Myanmar's persecution of Rohingya...

People hold placards during a protest against what they say is Myanmar's persecution of Rohingya...

Rohingya Muslims, who crossed over from Myanmar into Bangladesh, stretch their arms out to..

Rohingya Muslims, who crossed over from Myanmar into Bangladesh, stretch their arms out to..

Like us on Facebook

Copyright 2017, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523
Powered by Yodasoft Technologies Pvt. Ltd.