A Village in Gujarat Has Rs. 1000+ Crores in NRI Deposits

Dhamraj, Gujarath has more than 1000 Crores in NRI deposits in bank

Dharmaj village in Gujarat has more than Rs. 1000 Crores in NRI Deposits

While the world perceives India to be a nation of poor and hungry, there’s another side which most aren’t aware of, or say continue to ignore. That is its growing economy that remained unfazed during economic downturn.

Dharmaj, a village in the state of Gujarat, is in news and its all for good reasons. It has more than 1000 Crores in NRI deposits in bank accounts in 13 major nationalized banks located in the area. This village in Anand district of Gujarat has a population of 11,333 of which 1700 families have settled in Australia, Canada, New Zealand, US and other countries.

One member from each family is settled overseas and regularly sends money. The people of this village has been depositing in these nationalized banks for years together and it is now the wealth has accumulated to Rs. 1000 Crores. Dharmaj has become one of India’s richest and literate villages.

In the preceding year, India received a total of $69 billion money from Indian Diaspora. The World Bank estimates $70 billion remittances to India this year.

Source: PTI. The Hindu

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