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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.
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
Haryana
Delhi Weather and AQI Today: Warm start at 22.05 °C, check weather forecast for October 22, 2024
Check the weather forecast and air quality updates for Delhi on October 22, 2024 here.
The temperature in Delhi today, on October 22, 2024, is 32.93 °C. The day’s forecast indicates a minimum and maximum temperature of 22.05 °C and 35.04 °C, respectively. The relative humidity is 26% and the wind speed is 26 km/h. The sun rose at 06:26 AM and will set at 05:44 PM.
Tomorrow, on Wednesday, October 23, 2024, Delhi is predicted to experience a minimum and maximum temperature of 27.42 °C and 34.91 °C, respectively. Tomorrow humidity levels will be at 20%.
With temperatures ranging between 22.05 °C and 35.04 °C, prepare for a hot day and plan outdoor activities accordingly. If you are sensitive to heat, take note of the weather forecast and consider appropriate attire and activities suitable for the prevailing weather.
The AQI in Delhi today stands at 334.0, falling in the very poor category. Everyone should be cautious. Children and people with respiratory diseases, such as asthma, should stay indoors and others should also limit their outdoor activities. Usage of masks and air purifying devices is advised. Being aware of the AQI helps one make informed decisions regarding one’s overall well-being while planning the day’s activities.
Weather and AQI predictions in Delhi for next 7 days:
Date Temperature Sky October 23, 2024 32.93 °C Sky is clear October 24, 2024 32.69 °C Sky is clear October 25, 2024 32.5 °C Sky is clear October 26, 2024 32.07 °C Sky is clear October 27, 2024 30.69 °C Sky is clear October 28, 2024 31.29 °C Sky is clear October 29, 2024 32.09 °C Sky is clear
Weather in other cities on October 22, 2024
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