NRI deposits in Kerala increase by 12 per cent in 2016-17

Thiruvananthapuram: The inflow of NRI deposits to Kerala increased by 12 per cent during 2016-17 and stood at Rs 1,52,348 crore as on March 2017.

The total NRI deposits in the public sector banks as on March 2017 was Rs 83,855 crore and Rs 68,493 crore in the private sector banks, according to the Economic Review 2017 tabled in the state Assembly recently.

As on March 2016, the NRI deposit was Rs 1,35,609 crore, the review said.

The Kerala-based Federal Bank attracted more NRI deposits than the public and private sector banks, it noted.

The percentage share of the NRI deposits is 55.04 per cent in the public sector banks and 44.96 per cent in the private sector banks.

While the State Bank of India group attracted 33.52 per cent, other nationalised banks get 21.06 per cent of the total remittance, the review said.