NRI deposits in Kerala is a whopping Rs 2 lakh crore
Kochi: Banks in Kerala have witnessed a record increase in deposits from NRIs. According to data, banks in Kerala have a total NRI deposits of Rs 1.99 lakh crore. Rs 1,99,711.27 crore to be precise.
It is for the first time that NRI deposits in banks in the state is reaching the Rs 2 lakh crore mark.
According to a report from the state-level bankers committee, NRI deposits have registered an annual increase of 7.19 percent.
Public sector banks in the state including Kerala Gramin Bank have received deposits to the tune of Rs 96,469.61 crore. NRI deposits in private banks stands at Rs 1,02,095.08 while in small finance banks its stands at Rs 1,216.55 crore.
State Bank of India received the most deposit amount with Rs 58,516.29 crore. Federal Bank received Rs 51,709.44 crore.