Forex Reserves Top $55 Billion Mark
India's foreign exchange reserves grew by $268 million to $55.073 billion during the week ended April 19.
The increase in the reserves was mainly because of the rise in foreign currency assets (FCA) by $ 268 million to $52.014 billion. Gold and special drawing rights (SDRs) remained unchanged at $3.047 billion and $12 million, respectively.
Aggregate deposits of scheduled commercial banks (SCBs) grew by Rs 27,550 crore during the fortnight ended April 5, 2002. Outstanding aggregate deposits as on April 5 was Rs 11,28,003 crore.
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Demand deposits shot up by Rs 10,199 crore (outstanding at Rs 1,61,880 crore), while time deposits grew by Rs 17,350 crore (outstanding at Rs 9,66,123 crore). So far, during this fiscal, aggregate deposits increased by Rs 27,550 crore compared with Rs 30,808 crore in the corresponding period in the previous fiscal.
Credit extended by SCBs in the reporting fortnight was up by Rs 17,498 crore, while the outstanding credit as on April 5 was at Rs 6,03,329 crore. So far, in this fiscal, the credit extended by the banking system was at Rs 17,498 crore compared with Rs 16,929 crore in the corresponding period of the previous fiscal.
During the reporting fortnight, non-food credit grew by Rs 19,770 crore, while food credit was down by Rs 2,272 crore. So far, in this fiscal, non-food credit stays at Rs 19,770 compared with Rs 19,088 crore in the corresponding period last fiscal), while food credit stays at (-)Rs 2,272 crore (compared with (-)Rs 2,159 crore in the corresponding period last fiscal).
SCBs made Rs 14,884 crore of invesments in the reporting fortnight. While the investments in the government securities were at Rs 14,957 crore, those in other approved securities were (-)Rs 72 crore.
As on April 5, investments by SCBs stood at Rs 4,54,038 crore as on April 5, 2002. So far, in this fiscal, they invested Rs 14,884 crore compared with Rs 13,972 crore in the corresponding period of the previous fiscal. And the investments in government securities as on April 5 were at Rs 14,957 crore (compared with Rs 14,002 crore in the corresponding period of the previous fiscal), while those in other approved securities stood at (-)Rs 72 crore (compared with (-)Rs 30 crore in the corresponding period of the previous fiscal).