Net claims of non-residents on India rise to $379.7 billion in June quarter: RBI


MUMBAI: Net claims of non-residents on India elevated $12.1 billion to $379.7 billion in the June quarter on account of increased rise in foreign-owned monetary belongings, in accordance to RBI information launched on Thursday.
Increase in reserve belongings, at $16.6 billion, was the biggest contributor to the rise in Indian residents’ international belongings through the April-June interval, adopted by direct funding, loans and commerce credit score, as per the information on India’s worldwide funding place’ for June-end.
“The rise in net claims of non-residents during the quarter was on account of higher rise in foreign-owned financial assets in India ($36.2 billion) when compared with Indian residents’ overseas financial assets ($24.1 billion),” the Reserve Bank of India (RBI) stated.
“Inward portfolio investment ($15 billion) and foreign direct investment ($8.9 billion) together accounted for two-thirds of the rise in foreign liabilities of Indian residents,” it added.
As per the information, reserve belongings accounted for 64.2 per cent of India’s worldwide monetary belongings on the finish of the June quarter.
Variation in the trade price of rupee vis-a-vis different currencies impacted the change in liabilities, when valued in the US greenback phrases, the RBI information stated.
The RBI additional stated the ratio of India’s worldwide belongings to worldwide liabilities moderated to 70.9 per cent in June from 71.1 per cent 1 / 4 earlier and 71.5 per cent a 12 months in the past.
Debt and non-debt liabilities accounted for almost equal share in complete exterior liabilities through the quarter.

Nilesh Desai
Nilesh Desai
The Hindu Patrika is founded in 2016 by Mr. Nilesh Desai. This website is providing news and information mainly related to Hinduism. We appreciate if you send News, information or suggestion.


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