Statement sets out various developmental and regulatory policy measures to i) enhance liquidity support to targeted sectors of the economy with linkages to other sectors; (ii) deepen financial markets; (iii) conserve capital among banks and NBFCs through regulatory initiatives; (iv) strengthen supervision through the audit function; (v) facilitate external trade by improving ease of doing business for exporters; and (vi) upgrade payment system services so as to expand financial inclusion and improve customer service.
Monetary Stabilization DATE: September 25, 1936 Declaration by the United States, the United Kingdom, and France effected by simultaneous announcements at Washington, London, and Paris September 25, 1936; supplementary statement of intention […]
On a balance of payments basis (i.e., excluding valuation effects), foreign exchange reserves increased by US$ 19.8 billion during April-June 2020 as compared with US$ 14.0 billion during April-June 2019. Foreign exchange reserves in nominal terms (including valuation effects) increased by US$ 27.9 billion during April-June 2020 as compared with US$ 17.0 billion in the corresponding period of the preceding year
Net claims of non-residents on India declined for the fourth consecutive quarter and stood at US$ 345.7 billion at end-June 2020-The decline of US$ 29.7 billion in net claims during Q1:2020-21 was mainly due to an increase of US$ 27.9 billion in reserve assets. Among the constituents of foreign-owned assets, loans, foreign direct investment (FDI) and currency and deposits increased, whereas portfolio investment declined during the quarter.
At end-June 2020, India’s external debt was placed at US$ 554.5 billion, recording a decrease of US$ 3.9 billion over its level at end-March 2020.The external debt to GDP ratio increased to 21.8 per cent at end-June 2020 from 20.6 per cent at end-March 2020. Commercial borrowings remained the largest component of external debt, with a share of 38.1 per cent, followed by non-resident deposits (23.9 per cent) and short-term trade credit.