NRI deposits in Kerala banks grow to Rs.34,649 croreApril 24th, 2009 - 8:46 pm ICT by IANS
Thiruvananthapuram, April 24 (IANS) Deposits by non-resident Indians (NRIs) in Kerala banks grew from Rs.31,865 crore in June 2008 to Rs.34,649 crore as on Dec 31, 2008, according to the State Level Bankers Committee (SLBC).
The SLBC in a meeting here Friday said the State Bank group has posted higher growth in deposits during the period than the other nationalised and private banks.
The NRI deposits in the State Bank group grew from Rs.12,654.99 crore to Rs.14,642.94 crore during June-December 2008, the committee said.
The nationalised banks saw the NRI deposits growing from Rs.9,295.86 crore to Rs.9,966.44 crore during the period, while the private sector banks witnessed a marginal growth from Rs.9,422.4 crore to Rs.9,432.67 crore.
The SLBC said the total NRI deposit in Kerala banks in 2008 will be much higher than the previous year’s Rs.29,889 crore.
Over the last two years, the growth of NRI deposits has been erratic after showing a huge increase from Rs.24,534 crore in March 2002 to Rs.33,303 crore in March 2007.
It fell to Rs.29,889 crore in March 2008 but now again shows signs of revival.
The State Bank group has the highest share (42.26 percent) of NRI deposits as on Dec 31, followed by the nationalised banks (28.76 percent) and then the private banks (27.23 percent).
Of the total NRI deposits, Rs.24,034 crore is in the semi urban areas of the state, the SLBC added.
There are more than two million Keralites settled outside the country of which close to 90 percent are in the Middle East.
- NRI deposits in Kerala banks touch record high - Jun 25, 2009
- NRI deposits in Kerala banks continue to grow - Aug 27, 2009
- Deposits by NRIs in Kerala banks decline - Dec 21, 2009
- NRI deposits in State Bank of Travancore up - Apr 30, 2011
- NRI deposits go up marginally in Kerala banks - Oct 06, 2008
- Kerala banks post marginal growth in advances - Apr 25, 2009
- UCO Bank net up by 12 percent in Q4 - May 05, 2012
- IOB targets 20 percent business growth in 2012-13 - May 05, 2012
- PNB targets Rs 10,00,000 crore business by 2013 - Jan 09, 2011
- Nationalised banks declare attractive schemes to lure PIOs, NRIs - Jan 09, 2011
- SBI annual net profit surges nearly 42 percent (Lead) - May 18, 2012
- Corporation Bank needs Rs.16 bn to meet Basel III norms - Jul 18, 2012
- ICICI Bank Q1 profit up 30 percent - Jul 29, 2011
- Allahabad Bank reports 55 percent rise in Q4 net profit - May 05, 2012
- ICICI Bank Q2 net profit rises 21.6 percent - Oct 31, 2011
Tags: april 24, bank group, indians, keralites, marginal growth, middle east, nationalised banks, nri deposits, previous year, private banks, private sector banks, revival, signs, slbc, state bank, thiruvananthapuram, two million, urban areas