India’s overseas debt rises modestly to $627 billion as of end June

NRI deposits as reflected in debt from “Deposit-taking Corporations, except the Central Bank” increased 6.5 percent in the June quarter to $167 billion from $157 billion a year ago. While outstanding overseas borrowings as reflected in debt from “Non-financial corporations remained flat at $250 billion” remained flat at $ 250 billion over the period. The RBI data also indicated that outstanding debt of the general government decreased, while non-government debt increased at end-June 2023.

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