The deposit by the non-residents almost doubled year-on-year in the first quarter of the current financial year.
Non-resident deposits recorded net inflows of $ 4 billion during Q1FY25 as compared with $2.2 billion a year ago, according to the Reserve Bank of India’s (RBI) latest monthly bulletin released on August 19.
The inflows were higher in all three accounts such as Non-Resident (External) Rupee Accounts [NR(E)RA], Non-Resident Ordinary (NRO) and Foreign Currency Non-Resident [FCNR(B)] accounts.
Foreign portfolio investors (FPIs) were buyers in July 2024, with net inflows amounting to $5.2 billion. Net inflows in the equity segment at $3.3 billion rose to a four-month high during the month.
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