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Despite Covid, Kerala banks see massive growth in NRI, domestic deposits

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Despite Covid, Kerala banks see massive growth in NRI, domestic deposits

In the last fiscal year, Kerala Bank’s NRI deposits increased by 10%, although the crisis after the pandemic resulted in the return of hundreds of thousands of foreigners. During the same period, domestic deposits also increased by 12%. According to the data provided by the State Bankers Committee for the 2020-21 fiscal year review held last week, as of March 31, the NRI deposits of banks across Kerala reached Rs 2,296.36 crore, and the corresponding day in 2020 was 2 086.98 billion trillion US dollars.

A similar growth pattern was reported for the 2019-20 fiscal year-10%. At the same time, as of March 31, domestic deposits have reached 3727.8 billion rupees, compared with 33567.4 billion rupees in the same period in 2020. NRI deposits are foreign currency deposits deposited by non-resident Indians in Indian banks. NRI deposits are different from remittances.

Remittances are foreign currency funds remitted by NRI to their family members, not remitted back to China like NRI deposits. In the past year, one million people who returned to Kerala from abroad-most of them from the Middle East-cited unemployment as a reason for their return to the country. People are worried that the return of expatriates will affect the state’s economy, because the money sent by expatriates is regarded as the lifeline of Kerala’s economy.

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Despite the crisis caused by the pandemic, there are several reasons for the increase in NRI deposits in Kerala. Senior banker S Adikesavan said: “The NRI returning after the pandemic may have transferred its deposits in foreign accounts to banks in the country or the state.

At home, due to the blockade, transactions such as real estate are almost zero, which ensures These NRI deposits are still in the bank.”

News Source : The Indian Express

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DTC to start electric buses from 3 Delhi ISBTs to Noida airport by May end

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DTC to start electric buses from 3 Delhi ISBTs to Noida airport by May end

The buses will start and currently serve Greater Noida and Jewar, even though the airport is probably not going to be operational by May By the end of May, the Delhi Transport Corporation (DTC) plans to begin operating electric buses from the Capital to the soon-to-be Noida International Airport (NIA) in Jewar, according to officials. The buses will begin at.

Delhi’s three Inter State Bus Terminals (ISBTs) — Maharana Pratap ISBT at Kashmere Gate, Swami Vivekanand ISBT at Anand Vihar, and Veer Hakikat Rai ISBT at Sarai Kale Khan — and currently serve Greater Noida and Jewar, even though the airport is probably not going to meet the May deadline to be operational The Delhi Transport Corporation (DTC) is set to launch.

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Electric bus services connecting Delhi’s Inter-State Bus Terminals (ISBTs) to the upcoming Noida International Airport (NIA) in Jewar by the end of May 2025. This initiative aims to enhance connectivity between the national capital and the new airport, providing a March 2025, DTC and NIA signed operate thesesustainable and efficient mode transportation for.

Key Features of the Service

  • Routes and Terminals: The electric buses will operate from three major ISBTs in Delhi: Maharana Pratap ISBT at Kashmere Gate, Swami Vivekanand ISBT at Anand Vihar, and Veer Hakikat Rai ISBT at Sarai Kale Khan. Initially, these buses will serve areas in Greater Noida and Jewar, catering to the March 2025, DTC and NIA signed an MoU to operate these demand for public transport in these regions.
  • Memorandum of Understanding (MoU): In March 2025, DTC and NIA signed an MoU to operate these bus services, formalizing the collaboration between the two entities The fleet will consist of air-conditioned, low-floor electric buses equipped with modern amenities, including GPS tracking, CCTV cameras, panic buttons, and broad aisle spaces to accommodate luggage. These features aim to ensure.
  • Commuters passenger safety and comfort during transit While the exact fare amounts are yet to be finalized, discussions are ongoing in consultation with the Yamuna Expressway Industrial Development Authority (Yeida), which manages the Jewar area. The authorities aim to establish a cost-effective fare structure for commuters The bus services will initially be deployed on a pilot basis. Depending demand.

Additional Considerations

  • Infrastructure Development: A four-kilometer stretch of road that will be part of the bus route is not fully developed yet. DTC has reached out to Yeida to ascertain the usability and development timeline of this segment to ensure seamless operations. and passenger feedback, routes may be adjusted, and the number of buses increased to better serve commuters this, the bus services will begin as scheduled.
  • Airport Operational Timeline: Although the NIA was expected to commence operations by mid-May 2025, it is likely to miss this deadline due to ongoing construction work. Despite this, the bus services will begin as scheduled, providing connectivity to the surrounding areas in the interim providing connectivity to the surrounding areas in the interi This initiative reflects DTC’s commitment to.
  • Enhancing public transportation infrastructure and promoting eco-friendly travel options in the National Capital Region. By introducing electric buses on this route, the corporation aims to offer a reliable and sustainable alternative for commuters traveling between Delhi and the upcoming Noida International The Delhi Transport Corporation (DTC) is set to commence electric bus services.
  • connecting Delhi’s Inter-State Bus Terminals (ISBTs) to the upcoming Noida International Airport (NIA) in Jewar by the end of May 2025. This initiative aims to provide eco-friendly and convenient transportation options for commuters traveling between Delhi and the new airport NIA was expected to commence.
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