NRI Deposits See $12 Billion Inflows

Overseas Indians deposited approximately $12 billion into non-resident Indian (NRI) deposit schemes between April and October (FY25), nearly doubling the amount deposited during the same period last year, according to data released by the Reserve Bank of India (RBI).
In April-October FY25, inflows into NRI schemes reached $11.89 billion, compared to $6.11 billion in the same period a year ago. As of October 2024, the total outstanding NRI deposits stood at $162.69 billion, up from $143.48 billion a year earlier. In October alone, over $1 billion was deposited into various NRI schemes by overseas Indians.
The NRI deposit schemes include foreign currency non-resident (FCNR) deposits, non-resident external (NRE) deposits, and non-resident ordinary (NRO) deposits.
During the April-October period, the majority of the inflows went into FCNR (B) deposits. RBI data indicates that approximately $6.1 billion flowed into these accounts during the period, compared to $2.06 billion in the corresponding period last year, bringing the total outstanding amount in such accounts to $31.87 billion.