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NRI Deposits Decline in Kerala

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New Currency Notes of Rs 200 denomination. (File Photo: IANS) by .
New Currency Notes of Rs 200 denomination (File Photo: IANS)

Data shows that though the total Non-Resident Indian (NRI) deposits in Kerala banks for the 12 month period grew from Rs 1,42,668 crore in June 2016 to Rs 1,54,252 crore on June 2017, the rate of growth fell from 22 per cent to eight per cent….reports Asian Lite News

New Currency Notes of Rs 200 denomination. (File Photo: IANS) by .
New Currency Notes of Rs 200 denomination (File Photo: IANS)

The figures were released on Thursday at the quarterly meeting of the State Level Bankers Committee meeting held here.

According to the figures, the total NRI deposits in the 6,339 branches of various commercial, scheduled and private banks stood at Rs 1,17,349 crore in June 2015, and grew to Rs 1,42,668 crore in June 2016 and to Rs 1,54,252 crore in June 2017.