NRI deposits on the rise: Mecklai

Mecklai Graph of the Day - NRI Deposits continuing to rise

With interest rates in India continuing to remain quite high as compared with developed nations coupled with the Rupee depreciating to a historic low against the Dollar last month, the amount of NRI deposits in India have rocketed since the past 4-months. This amount rose to a record of US$1782 million or US$1.782 billion in November. With Rupee continuing to trade with a weaker bias against the Dollar last month coupled with interest rates on NRE deposits remaining quite high (ranging between 8.5

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