RBI balance sheet increases 12.3% in 2015-16
The Dollar Business Bureau The Reserve Bank of India (RBI) said on Tuesday that the bank’s balance sheet has surged to Rs.32,43,011 crore, an increase of 12.3 percent, for the year closed on June 30. During the same period a year earlier, the balance sheet of central bank’s stood at Rs.28,89,152 crore. “The increase on the asset side was due to an increase in foreign investments and domestic investments by 7.98 per cent and 35.64 percent, respectively, and on the liability side due to increase in notes in circulation and other liabilities and provisions by 15.92 per cent and 14.77 percent, respectively,” the Reserve Bank said in its annual report for the year 2015-16. During the given period, the assets in foreign currency and gold (consisting of gold ...
'Inflation under control, domestic investments need to pick up
The Dollar Business Bureau Inflation, in the past one year, has been under control to a great extent and the overall inflation situation during the period has been much better than it has been in the past one decade. A statement in this regard was made by the Union Finance Minister Arun Jaitley in his address at a press conference in New Delhi on Saturday. In his address to media, the Minister was quoted to have said, “Inflation has been brought under control in the past one year, however, the global economy and agrarian situations as well as domestic investments pose challenge to the Indian economy.” While a decline in international oil and commodity prices have resulted in controlled ...
Investments by non-resident Indians to be considered domestic: GoI
The Dollar Business Bureau The Union Cabinet, chaired by the Prime Minister of India Narendra Modi, on Thursday, gave its approval to review the Foreign Direct Investment (FDI) Policy on investments by Non-Resident Indians (NRIs), Persons of Indian Origin (PIOs) and Overseas Citizens of India (OCIs). In this regard, the Cabinet gave its nod for the amendments to be incorporated in the new FDI policy. As per the proposed amendment, the definition of NRI also includes OCIs as well as PIOs and a decision in this regard is meant to align the FDI policy with the Government’s stated policy in order to provide the PIOs and OCIs an equal recognition with that of NRIs in terms of economic, financial ...
