India-Forums

   

Non-resident Indians deposit less in Kerala banks

Thiruvananthapuram, Oct 9 (IANS) For various reasons ranging from unattractive interest rates to better investment options elsewhere, Keralites working abroad are not saving their money in the Kerala banks.

Monday, October 9, 2006 | 2:45:22 PM IST (+05:30 GMT)
 0 Comments | By

Thiruvananthapuram, Oct 9 (IANS) For various reasons ranging from unattractive interest rates to better investment options elsewhere, Keralites working abroad are not saving their money in the Kerala banks.

Because of this trend, of late, deposits by non-resident Indians (NRIs) from Kerala in the state's banks have not touched the expected mark, said state Finance Minister Thomas Isaac Monday here.

Isaac informed the Kerala Assembly that the total deposit by NRIs touched Rs.306.71 billion as on March 31, this year.

'We are working out new schemes for NRIs so that they could invest in the state. We are considering options where they could invest in the hi-tech companies in the state,' he said.

'The marginal increase from Rs.291.2 billion in 2004-05 to Rs.306.71 billion in the last fiscal, clearly shows that there are options for the NRIs to park their funds elsewhere,' said a banker.

'Unattractive interest rates, better investment options and parking of funds in Europe by NRIs have been the reasons for the fall in non-resident deposits in Kerala banks,' he added.

Copyright : Indo-Asian News Service
User Rating Rating(0 Votes)

Share On :

Share on Facebook Share on Twitter Share on Google+ Share on WhatsApp

To stay updated with similiar articles follow


User Comments & Ratings

Join India Forums for free to comment on this story. Have an account already? Use Quick Login to comment.
Dear Readers,
  • Please do not use derogatory comments in reply to the stories published on Telly Buzz, India-Forums.
  • The credibility of the site matter to us, and the comments in bad taste tend to invariably hurt the actors/production house/channel etc.
  • So kindly, refrain from creating an unhealthy atmosphere for all, and keep your comments constructive.
  • Also, please use the Rate It button if you want to just thank the author for posting the story.

Articles in National, Business, Diaspora

Art - Culture Business Diaspora
Education Health Politics
Religion Sports Sci-Tech
Travel

AROUND THE WORLD NOW

Asia America Australia
Africa Europe Gulf-Middle East
Pakistan Nepal Bhutan
Sri Lanka Bangladesh Maldives

Disclaimer: All Logos and Pictures of various Channels, Shows, Artistes, Media Houses, Companies, Brands etc. belong to their respective owners, and are used to merely visually identify the Channels, Shows, Companies, Brands, etc. to the viewer. Incase of any issue please contact the webmaster.

Popular Channels :
Star Plus | Zee TV | Sony TV | Colors TV | SAB TV | Life OK

Quick Links :
Top 100 TV Celebrities | Top 100 Bollywood Celebs | About Us | Contact Us | Advertise | Forum Index