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India Business News: Overseas Indians sent a record $29 billion back home in the December quarter through remittances, driven by increasing returns from FCNR instruments. ....
NRIs park more forex in India! Fund flows into FCNR (B) deposits, designed for non-resident Indians (NRIs), have more than doubled this year, indicati ....
Fresh inflows under FCNR(B) which eliminates currency risk for NRIs, touched $2 billion in April-October, compared with an outflow of $841 million in the same period a year ago, showed the latest Reserve Bank of India (RBI) data published in its monthly Bulletin. Overall, fresh NRI deposits doubled to $6 billion during the April-October of 2023, from $3 billion in the same period a year ago. ....
Fresh inflows under various non-resident deposit schemes doubled to $6.1 billion in April-October 2023 from $3.05 billion in the same period of the last year, a recent Reserve Bank of India (RBI) data showed. ....