NRI deposits in Kerala reach Rs 3.35 trillion as Gulf remittances rise

Non-resident Indian (NRI) deposits in Kerala have reached Rs 3.35 trillion, accounting for approximately 31 percent of the state’s total bank deposits. According to June 2026 data from the State Level Bankers' Committee, these deposits grew by 17 percent annually. Federal Bank holds the largest share of these deposits at Rs 94,155 crore, followed by the State Bank of India with Rs 87,526 crore.

In the Gulf region, worker remittances from Kuwait rose 18.2 percent in 2025, totaling approximately $16.7 billion. This figure represents 10.6 percent of Kuwait’s GDP, one of the highest ratios among Gulf Cooperation Council (GCC) countries. Total worker remittances across the GCC reached approximately $161 billion in 2025, a 13.6 percent increase from the previous year.