Close X
Wednesday, January 1, 2025
ADVT 
International

Disillusioned With Middle-east, Kerala Diaspora Heads Back Home

Darpan News Desk IANS, 30 Dec, 2017 01:12 PM
    Traditionally, remittances from the Middle East have been the mainstay of Kerala's economy, but with more and more of the state's diaspora bidding goodbye to the Gulf countries, things are going to change, once and for all.
     
    According to a Kerala minister, even though there are no figures to show the exact number of people returning from the Middle East countries for good, there is a marked change in their spending pattern -- such households are now more cautious about dispensing with their money.
     
    State Minister for Finance Thomas Issac told reporters on Friday: "Why we say that there is an increase in our diaspora returning is because the number of arrivals at our airports far outnumber the number of departures.
     
    "Another indicator that things are no more that rosy in the Middle East is that there is a marked shift in the spending pattern of the diaspora households... They have become very careful now."
     
    However, Issac also said that until now there was no fall in remittances from the state's diaspora.
     
    "Eventually remittances might come down, but not now. Actually, the diaspora returning for good are pulling out all their savings from the country they worked in and putting in banks here," he explained.
     
    Although decline in remittances has not been recorded in the state, the rate of growth of NRI deposits has certainly come down, according to figures released by the State Level Bankers' Committee (SLBC).
     
    The SLBC figures show that deposits in 6,339 branches of various commercial, scheduled and private banks in the state, which stood at Rs 117,349 crore in June 2015, grew to Rs 142,668 crore in June next year and saw a minimal hike to Rs 154,252 crore in June 2017.
     
    According to the only study report published in 2014 by migration expert S. Irudayarajan of the Centre for Development Studies here, 90 per cent of Kerala's 23.63 lakh diaspora are located in various Middle-East countries, of which the UAE accounts for 38.7 per cent, followed by Saudi Arabia, which has 25.2 per cent.

    MORE International ARTICLES

    British PM Theresa May Makes Poll Pledge To Clamp Down On Immigration

    British PM Theresa May Makes Poll Pledge To Clamp Down On Immigration
    Theresa May on Thursday unveiled her Conservative Party's election manifesto that makes cutting immigration from countries like India, a central poll pledge if her party wins the June 8 general election.

    British PM Theresa May Makes Poll Pledge To Clamp Down On Immigration

    US Woman Officer Cleared In Fatal Shooting Of Unarmed Black Man

    US Woman Officer Cleared In Fatal Shooting Of Unarmed Black Man
    A white police officer in the southern city of Tulsa, Oklahoma, has been acquitted of manslaughter in the fatal shooting of an unarmed African-American man, US news reports said on Thursday.

    US Woman Officer Cleared In Fatal Shooting Of Unarmed Black Man

    Times Square 'Attack': One Dead, 'Multiple Casualties' After Speeding Car Hits Pedestrians

    Times Square 'Attack': One Dead, 'Multiple Casualties' After Speeding Car Hits Pedestrians
    A speeding car crashed into pedestrians on a sidewalk in New York City's busy Times Square on Thursday, killing one person and seriously causing multiple injuries, witnesses said.

    Times Square 'Attack': One Dead, 'Multiple Casualties' After Speeding Car Hits Pedestrians

    Sikh Foundation Celebrates 50th Anniversary by Honouring Five Women with the Nirbhau Award

    Sikh Foundation Celebrates 50th Anniversary by Honouring Five Women with the Nirbhau Award
    During the dinner, the Sikh Foundation Nirbhau (which means “without fear”) Awards were given to five women who have made a huge impact in the world, all the while promoting Sikh heritage, arts, culture and religion, because, in spite of all odds – they persisted!

    Sikh Foundation Celebrates 50th Anniversary by Honouring Five Women with the Nirbhau Award

    'Curry, Not Colour', Says UK Landlord Facing Legal Action For Banning Indian Tenants

    'Curry, Not Colour', Says UK Landlord Facing Legal Action For Banning Indian Tenants
    The UK's Equality and Human Rights Commission (EHRC) confirmed that it had applied for an injunction against Fergus Wilson at the Central London County Court.

    'Curry, Not Colour', Says UK Landlord Facing Legal Action For Banning Indian Tenants

    26-Year-Old Indian-American Man From Lexington Missing Since Friday in Boston

    26-Year-Old Indian-American Man From Lexington Missing Since Friday in Boston
    A 26-year-old Indian-American man has gone missing in the US city Boston and police have urged people to come forward to help with information about him.

    26-Year-Old Indian-American Man From Lexington Missing Since Friday in Boston