Kerala: Rs.795 crore increase registered in NRI deposits

Published on: 03 Feb, 2015
Published under: General Kerala News, Kerala Business News

On Monday The State Bank of Travancore (SBT) Kerala have registered an increase of of Rs. 3,795 Crore, a top official of bank said. SBT’s managing director Jeevandas Narayan told reporters here that over a fourth of its deposits are accounted in the NRI (non-resident Indian) category.

The managing director says that “NRI deposits grew by Rs.3,795 crore to touch Rs.29,758 crore at the end of the third quarter of the current fiscal, while the bank’s total deposit grew from Rs.89,337 crore as at the end of last fiscal to touch Rs.91,440 crore on Dec 31 last year,”

Narayan pointed out that of the total 63 exchange houses that SBT has arrangements with in the Middle East, 15 were opened during the present fiscal. He will be visiting the United Arab Emirates (UAE) and Oman later this week to call upon their business partners, he Said.


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