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India Overseas Deposits Top $100 Billion FE Report

Bloomberg Markets •
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Inflows under the Reserve Bank of India's special overseas deposit facility have surpassed the $100 billion mark, according to a Financial Express report citing unidentified officials. This represents a significant jump from the last official figure of $65.39 billion reported by the central bank. The milestone also exceeds the estimate of approximately $80 billion provided by RBI Governor Sanjay Malhotra.

The growth highlights increasing interest in the foreign currency non-resident deposit scheme among the diaspora. The report did not specify the timeframe for the $100 billion total, but the surge marks a major milestone for India's overseas banking initiatives.