India's forex reserves dropped by $3.85 billion to $524.52 billion for the week ended October 21, the RBI said on Friday. The overall reserves had dropped by $4.50 billion to $528.37 billion in the previous reporting week, and have been declining for many months now. In October 2021, the country's forex kitty had reached an all-time high of $645 billion.
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India's foreign exchange reserves soared by $11.02 billion to reach $561.162 billion for the week ended December 2, Reserve Bank data showed on Friday. This is the fourth consecutive week of rise in the reserves. In the previous reporting week, the overall reserves had grown by $2.9 billion to $550.14 billion. For the week ended November 11, the forex kitty had jumped by $14.72 billion in its second fastest weekly acceleration ever.
The country's foreign exchange reserves declined $897 million to $572.98 billion in the week ended August 5, according to the Reserve Bank of India (RBI). In the previous week ended July 29, the reserves had risen $2.31 billion to $573.87 billion. In the week ended August 5, the fall in the foreign exchange reserves was due to a dip in the Foreign Currency Assets (FCA), a major component of the overall reserves, as per the Weekly Statistical Supplement released by RBI on Friday.
Foreign portfolio investors (FPIs) are likely to get a reprieve from the Securities and Exchange Board of India (Sebi) in case of a passive or unintended breach of the thresholds that trigger additional disclosure norms. According to sources, FPIs whose single group exposure exceeds 50 per cent of their corpus will get 10 trading days to bring down their exposure below the prescribed level, without triggering the stricter disclosure norms. If total equity exposure of an overseas fund exceeds Rs 25,000 crore and it doesn't wish to provide additional disclosures, it will have three months to pare its exposure.
The country's foreign exchange reserves declined by $5.87 billion to $590.59 billion in the week ended on June 17, the RBI data showed. In the previous week ended on June 10, the reserves had dropped by $4.6 billion to $596.46 billion. In the reporting week, the forex reserves fell due to a dip in foreign current assets (FCAs), a major component of the overall reserves, and also in gold reserves, the data showed.
The value of foreign portfolio investment (FPI) in Indian equities was at $542 billion in the March quarter of 2023, a decline of 11 per cent from the preceding year, largely due to the exodus of foreign money from the domestic market, according to a Morningstar report. In comparison, the value of FPI in Indian equities was $612 billion in the January-March quarter of 2022. On a quarter-on-quarter basis, the value of FPI in Indian equities fell by 7 per cent from $584 billion recorded in the three months ended December 2022.
Underlining the contribution of non-resident Indians, Union Finance Minister Nirmala Sitharaman on Tuesday said remittances sent to the country by overseas Indians were about $100 billion for the year 2022, an increase of 12 per cent in one year. Speaking at a session during the Pravasi Bharatiya Divas (PBD) convention in Madhya Pradesh's Indore city, she described NRIs as the "real ambassadors of India" and appealed to them to use made in India products and services as far as possible so that the country's individual brand can be promoted across the globe. Sitharaman also said that after the "China plus one" policy, the world is now talking about the "European Union (EU) plus one" policy.
In the biggest weekly increase in over a year, India's forex reserves swelled by $6.56 billion to reach $531.08 billion for the week ended October 28, RBI data showed on Friday. The overall reserves, which have been on a declining spree for many months now, had dropped by $3.85 billion to $524.52 billion in the previous reporting week. The $6.5 billion jump in the reporting week is the highest since September 2021.
About 281 cases have been taken up for investigation by the Directorate of Enforcement regarding suspected violations of foreign direct investment (FDI) norms all over the country during April 2019 to March this year, Parliament was informed on Wednesday. Necessary action as per provisions of Foreign Exchange Management Act, 1999 (FEMA) has been taken, which includes issuance of show cause notices, adjudication and imposition of penalty, Minister of State for Commerce and Industry Som Parkash said in a written reply to the Lok Sabha. In these cases, following the due process of adjudication, penalties of more than Rs 2,600 crore have been imposed under the FEMA, he said, adding the Reserve Bank of India (RBI) has done compounding of contraventions of FDI related FEMA provisions in total of 1,421 cases across the country during the last three years.
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India's foreign exchange reserves declined $1.15 billion to $571.56 billion for the week ended July 22, according to RBI data. The reserves has been declining amid continuing volatility in the rupee which has also significantly depreciated against the US dollar. In the previous reporting week, the overall reserves had declined by $7.54 billion to $572.71 billion.
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Ahead of the end of his term as the Kotak Mahindra Bank's chief executive and managing director, Uday Kotak has said he will be a "non-executive board governance member and a strategic shareholder" going ahead. In the private sector lender's annual report, the last such message from him as the MD and CEO before he relinquishes the position at the end of 2023, Kotak reminisced about the institution's journey, pointing out that Rs 10,000 invested in 1985 is worth over Rs 300 crore today. "Going forward, I see my role as a non-executive board governance member and a strategic shareholder with a long term perspective of nurturing a world class institution," Kotak said in the annual report.
The country's foreign exchange reserves declined $9.65 billion to $622.27 billion in the week ended March 11, according to the latest data from the RBI. In the previous week ended March 4, the reserves rose $394 million to $631.92 billion. It touched a lifetime high of $642.45 billion in the week ended September 3, 2021.
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The country's foreign exchange reserves declined by $1.76 billion to $630.19 billion in the week ended on February 11, the RBI data showed. In the previous week ended February 4, the reserves had risen by $2.2 billion to $631.95 billion. It touched a lifetime high of $642.45 billion in the week ended on September 3, 2021.
The country's foreign exchange reserves increased by $2.19 billion to $631.95 billion in the week ended February 4, RBI data showed. In the previous week ended January 28, the reserves had declined by $4.53 billion to $629.76 billion. It touched a lifetime high of $642.45 billion in the week ended September 3, 2021.
The country's foreign exchange reserves declined by $4.53 billion to stand at $629.75 billion in the week ended January 28, RBI data showed on Friday. In the previous week ended January 21, the reserves had decreased by $678 million to $634.29 billion. It touched a lifetime high of $642.45 billion in the week ended September 3, 2021.
After declining for three consecutive quarters, the value of FPI investment in Indian equities rose 8 per cent quarter-on-quarter to $566 billion in the July-September period, according to a Morningstar report on Wednesday. A fast-changing global macroeconomic landscape, sentiments and opportunities that the Indian equity markets have to offer impacted the direction of flows by Foreign Portfolio Investors (FPIs). Through the quarter, the value of the FPI holdings in domestic equities surged by 8 per cent to $566 billion from $523 billion recorded in the previous quarter.
The country's foreign exchange reserves declined by $908 million to $640.1 billion in the week ended October 22, RBI data showed. In the previous week ended October 15, the reserves had increased by $1.492 billion to $641.008 billion. The reserves had touched a lifetime high of $642.453 billion in the week ended September 3, 2021.
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The country's foreign exchange reserves surged by $5.066 billion to touch a record high of $608.999 billion in the week ended June 25, 2021, RBI data showed. In the previous week ended June 18, the reserves had declined by $4.418 billion to $603.933 billion. During the week under review, the increase in the forex reserves was on account of a rise in foreign currency assets (FCA), a major component of the overall reserves, Reserve Bank of India's (RBI) weekly data showed.
The country's foreign exchange reserves declined by $1.47 billion to $639.64 billion in the week ended September 17, RBI data showed on Friday. In the previous week ended September 10, 2021, the reserves had dipped by $1.34 billion to $641.11 billion. The reserves had surged by $8.89 billion to a lifetime high of $642.45 billion in the week ended September 3, 2021.
The country's foreign exchange reserves increased by $8.895 billion to reach a record high of $642.453 billion in the week ended September 3, the Reserve Bank of India (RBI) data showed. In the previous week ended August 27, the reserves had surged $16.663 billion to $633.558 billion, mainly due to a rise in special drawing rights (SDR) holdings. International Monetary Fund (IMF) had made an allocation of SDR 12.57 billion to India. For the week ended September 3, the increase was on account of a rise in foreign currency assets (FCAs), a major component of the overall reserves, RBI's weekly data released on Friday showed.
The country's foreign exchange reserves rose by $835 million to touch a record high of $612.73 billion in the week ended July 16, 2021, RBI data showed. In the previous week ended July 9, 2021, the reserves had surged by $1.883 billion to $611.895 billion. In the reporting week ended July 16, 2021, the increase in forex reserves was on account of the rise in foreign currency assets (FCA), Reserve Bank of India's (RBI) weekly data released on Friday showed.
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Of $90 billion remittances that India is expected to receive in 2022, only $27.4 billion has come in the first half of the year.
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