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Flows into NRI deposits nosedive to mere $349 mn in June quarter

Flow of money into non-resident Indian (NRI) deposits nosedived to a mere $349 million in Q1FY23 from $2.52 billion in Q1FY22. Outstanding deposits declined to $135.9 billion at the end of June 2022 from $141.5 billion a year ago. Sequentially, NRI deposits also shrank from $139.02 billion in March 2022 and 137.08 …

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