Huge rise in NRK deposits in Kerala banks

By Indo Asian News Service | Friday, December 07, 2012 | 9:04:05 PM IST (+05:30 GMT) Comment 0 Comment

Thiruvananthapuram, Dec 7 (IANS) Kerala Finance Minister K.M.Mani Friday said that there has been a staggering increase of over Rs.17,000 crore in NRI deposits in the state's banks in the past one year.

Thiruvananthapuram, Dec 7 (IANS) Kerala Finance Minister K.M.Mani Friday said that there has been a staggering increase of over Rs.17,000 crore in NRI deposits in the state's banks in the past one year.

"In 2011 the total NRI deposits in Kerala banks was Rs.38,556 crores and a year later in June this year, it has touched Rs.55,663 crores. One in 10 Keralites are abroad and the much-talked about Kerala model of growth was made possible by the Kerala diaspora," said Mani at an event in UAE, according to a statement released by his office here.

"Our government deeply values the yeoman service of the Kerala diaspora over the years and we will certainly look them up in high esteem. We are working out schemes both for the diaspora and for those who have returned for good," he said.

"We are working out a health scheme for the diaspora who have returned for good. Moreover recently there have been reports that in the state, the land and properties owned by the diaspora here are coming under duress from several quarters. We are soon floating very strong laws to see that this does not happen," assured Mani.

He noted that a good number of students from the state were going abroad for higher studies and if the state was able to retain them once they finish their studies, it would be a major boost for Kerala.

He added as per the latest statistics on the Kerala diaspora, UAE leads from the front with the largest Kerala population (8.83 lakh).

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