Tiny Gujarat village has over Rs.1000 crore in NRI deposits

The tiny Dharmaj village in Anand district near Vadodara has a population of just 11,333, but has some 13 major nationalised banks, and over Rs.1000 crore that the people hold in their bank accounts. For several decades NRIs from this village have been depositing money in the banks and post offices making it one of the richest villages in the country with the highest NRI deposits. The rich flow of funds has made Dharmaj one of the richest most literate villages across the country. Almost every family in the village has a member sending in money and some 1700 families have now settled in Britain, some 300 families in the US, 160 in New Zealand, 200 in Canada and 60 in Australia. With over $69 billion in remittances in 2013, India has been the largest beneficiary of diaspora money followed by China with over $64 billion.