Forex reserves cross $42 b

MUMBAI, MARCH 24. India's foreign currency reserves continue to climb to record levels with a rise of $146 million at to $42,198 million with further foreign institutional inflows for the week ended March 16.In the previous week, the foreign currency reserves had crossed the $42 billion mark.

The foreign currency assets increased by $146 million to $39,486 million in the reporting week, according to Reserve Bank of India's weekly statistical supplement.

Gold reserves and special drawing rights remained unchanged at $2,711 million and $one million respectively, it said.

RBI's loans and advances to the Central Government rose by Rs 2,049 crores to Rs. 5,688 crores while that to the State Governments declined by Rs. 882 crores to Rs. 7,419 crores.

In case of scheduled commercial banks aggregate deposits for the fortnight ended March 9 went up by Rs. 5,208 crores (0.6 per cent) to Rs. 9,51,054 crores.

Bank credit for the same fortnight was Rs. 5,04,945 crores, up by Rs. 324 crores.

- PTI

Send this article to Friends by E-Mail

Section  : Business
Next     : Development Credit Bank enters T. Nadu