New data from the Reserve Bank of India reveals a significant 24.17 per cent decline in Non-Resident Indian deposit flows, with contributions from overseas Indians dropping to $11.04 billion between April 2025 and February 2026.
Illustration: Uttam Ghosh
Key Points
- NRI deposit flows declined by 24.17 per cent to $11.04 billion between April 2025 and February 2026.
- This represents a significant drop from $14.56 billion recorded during the same period in 2025.
- The total outstanding NRI deposits reached $167.58 billion by the end of February.
- FCNR (bank) deposits saw a substantial decrease, falling to $0.91 billion from $6.76 billion in the prior year.
The flow of money from overseas Indians into nonresident Indian (NRI) deposit schemes dropped by 24.17 per cent to nearly $11.04 billion between April 2025-February 2026, from $14.56 billion during the same period in 2025, according to the Reserve Bank of India (RBI) data.
Understanding NRI Deposit Trends
The total outstanding NRI deposits stood at $167.58 billion as of February end.
The outstanding NRI deposits were $160.34 billion in February 2025 and $165.87 billion in January 2026.
Types of NRI Deposit Schemes
NRI deposit schemes include foreign currency non-resident (FCNR) deposits, non-resident external (NRE) deposits, and non-resident ordinary (NRO) deposits.
During the April-February 2026 period, flows into FCNR (bank) or FCNR (B) deposits dropped to $0.91 billion, compared to $6.76 billion in the same period last year.
