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Last Updated Monday December 09 2019 05:58 AM IST

NRI remittances: banks face nearly 70% shortfall in Kerala

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NRI Deposits NRI depoits in Kerala banks have reduced in the last one year: File photo

Thiruvananthapuram: Though the total Non-Resident Indian (NRI) deposits in Kerala banks for the 12 month period grew from Rs 1,42,668 crore in June 2016 to Rs 1,54,252 crore on June 2017, the rate of growth fell from 22 per cent to eight per cent, data shows.

The figures were released on Thursday at the quarterly meeting of the State Level Bankers Committee meeting held here.

According to the figures, the total NRI deposits in the 6,339 branches of various commercial, scheduled and private banks stood at Rs 1,17,349 crore in June 2015, and grew to Rs 1,42,668 crore in June 2016 and to Rs 1,54,252 crore in June 2017.

Read more at: Latest in Business | Premium peg: KSBC wants govt to lower tax to bring in leading global brands

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