NRI Deposits in Schemes Such as FCNR(B), NRO, NRE(RA) Swell 38% in April-June

Mumbai: Overseas Indians have again started finding India markets attractive to park their money amid rising global uncertainties, following the downgrade of US sovereign debt rating and debt concerns in Europe. NRI inflows in the first quarter of FY12 saw a rise of 38% from the same period of the previous fiscal. Non-resident Indians, or NRIs, parked $1.54 billion in April-June this year in various NRI deposit schemes compared with $1.12 billion in the year-ago period.