ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Southern Africa-Splits In the Frontline

in 1975-76 by Rs 544 crores to Rs 1,198 crores. The remittances from abroad took partly the shape of rupee deposits. These increased during the three years ended June 1978 by Rs 287 crores to Rs 320 crores. In other words, of the increase of Rs 1,463 crores in gross non-merchandise receipts less than a fourth came in the shape of rupee deposit. Additionally, since November 1975, when Indians abroad and non-residents of Indian origin were permitted to hold accounts in foreign currency with banks in India, direct receipts under this head upto March 1978 amounted to Rs 143 crores.

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