Forex Reserve: The nation’s forex reserve at present stays at a historic excessive. Our nation is in a a lot better position than all the countries of the world in terms of forex reserves, and at present has reached the fourth position in the listing of countries which have the highest forex reserves.
Question relating to forex reserve requested in Lok Sabha
The query was requested in the Lok Sabha whether or not it is true that the international reserve of our nation is at a historic excessive and has it reached close to 700 billion US {dollars}? Answering this query, the Finance Ministry mentioned that the international reserve of our nation has crossed 700 billion US {dollars} in the month of September, and through the final week of September it was recorded past 704 billion US {dollars}.
India is the fourth nation with forex exceeding 700 billion {dollars}.
The Finance Ministry has mentioned that after China, Japan and Switzerland, India has change into the fourth nation whose international reserves exceed US $ 700 billion.
Information additionally given on the gold obtainable with the Reserve Bank
In response to the query, it has additionally been instructed that our Reserve Bank at present has 854.73 metric tons of gold. Out of this, 510.46 metric tons of gold is stored in the banks of India. The ministry mentioned that in accordance with the knowledge for the month of September, the complete worth of gold owned by India is 65.75 billion US {dollars}.
Information additionally given on asset high quality of banks
The Finance Ministry additionally mentioned that public sector banks are increasing their attain to each nook of the nation to extend monetary inclusion. Their capital base has strengthened and their asset high quality has improved. Now they’re able to elevate capital from the market as an alternative of relying on the authorities for capital.
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