{
  "id": 678997,
  "title": "NRI dollar rush sends bank deposits soaring",
  "url": "https://urgent.news/2026/08/12/nri-dollar-rush-sends-bank-deposits-soaring",
  "topic": "world",
  "section": "World",
  "published": "2026-08-12T16:30:47.000Z",
  "source": {
    "name": "The Economic Times",
    "slug": "the-economic-times",
    "url": "https://economictimes.indiatimes.com/news/economy/finance/bank-deposits-hit-decade-high-growth-as-nri-dollar-inflows-cross-37-billion/articleshow/133188027.cms"
  },
  "original_language": "en",
  "account": "Kolkata: India's foreign currency-linked non-resident deposits surged by $37 billion in just two months following the Reserve Bank of India's creation of a special window to attract dollar inflows. Bank deposits rose 15.4% year-on-year at the end of July, the fastest pace in nearly a decade. Bank credit growth accelerated to 19.4% during the same period, marking the quickest pace since June 14, 2024. Scheduled commercial banks mobilized deposits at a faster rate than ever before, with growth rates surpassing 15.4% for the first time since December 9, 2016. India attracted nearly $41 billion in inflows by July 31, with FCNR-B deposits accounting for $36.72 billion. Banks are facing challenges in mobilizing local deposits as savers seek higher yields through market-linked investment products.",
  "summary": null,
  "key_points": [
    "NRI deposits surge $37 billion in two months",
    "Bank deposits rise 15.4% year-on-year in July",
    "Credit growth accelerates to 19.4% peak since June 2024"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}