NRI deposits rise 0.46% in April 2025, driven by surge in FCNR(B) deposits, RBI bulletin says

RBI Governor Sanjay Malhotra

Non-Resident Indian (NRI) deposits showed a marginal year-on-year uptick of 0.46 percent in April 2025, with total outstanding balances rising to $165.43 billion from $164.68 billion in April 2024, according to the Reserve Bank of India’s June 2025 bulletin.

While the growth was modest in absolute terms, category-wise trends show a more nuanced picture, with FCNR(B) deposits logging the highest percentage increase, followed closely by NRO deposits.

Foreign Currency Non-Resident Bank [FCNR(B)] deposits rose 9 percent year-on-year in April 2025, with outstanding balances increasing to $33.08 billion from $30.26 billion in April 2024.

This marks the sharpest percentage growth among the three deposit schemes, despite its smaller share in the overall pie. The monthly inflow under FCNR(B) deposits stood at $483 million in April 2025, compared to a provisional $272 million in April 2024–26.

Coming second in terms of growth rate, Non-Resident Ordinary (NRO) deposits saw a robust 13.4 percent increase year-on-year, with balances growing to $31.24 billion from $27.56 billion in April 2024, which is a jump of nearly $3.7 billion.

Inflows for NRO accounts in April 2025 were at $31 million, as against a higher $103 million provisionally recorded for April 2024-26.

Non-Resident (External) Rupee Account [NR(E)RA] deposits, which form the largest chunk of the overall NRI deposits, grew the least among the three, increasing by just 0.38 percent year-on-year.

Outstanding balances moved up to $101.11 billion in April 2025, from $100.73 billion a year earlier. However, fresh inflows in this segment were the highest at $564 million, compared to $376 million in the provisional data for April 2024–26.

In total, NRI deposit flows across all three schemes rose to $1.08 billion in April 2025, up 43 percent from the $751 million seen in the year-ago period.