NRI Deposits Surge in FY25, FCNR(B) Scheme Leads Growth in India

Imagine people from other countries have money in Indian banks.

Over the last two years, this money has been increasing.

The amount in FCNR(B) accounts, which hold foreign currencies, grew the most.

These accounts are popular during uncertain times.

NRO accounts also increased.

However, NR(E)RA accounts grew slower.

This is because India's economy is doing well, and some are avoiding potential taxes on money sent abroad.