19 Hrs
Source:
عربي21
Record Number of Indians Returning Home
According to data from the Reserve Bank of India, foreign funds flowing into India exceeded $52.3 billion in the first half of the year, leading to the early termination of the foreign deposit attraction program. This was the result of competition among Indian banks to attract deposits from Non-Resident Indians (NRIs), by offering interest rates of up to 7.75% on five-year deposits, aiming to boost foreign exchange inflows and increase investments. It is worth noting that the program was originally scheduled to continue until the end of next month, but the strong response to the foreign currency deposit scheme prompted an early withdrawal, with record-breaking financial inflows reflecting the active engagement of the Indian diaspora abroad.
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