Forex reserves top $95 bn
Mumbai, Nov. 29: India’s foreign exchange reserves witnessed a massive jump with a further accretion of $1,710 million, a record rise in the current fiscal, to surge past the $95 billion mark for the week ended November 21. The country's foreign exchange reserves increased from $93,663 to $95,373 million in the period under review, according to the Reserve Bank of India’s weekly statistical supplement released here today. The foreign currency assets rose to $91,450 million, up by $1,710 million, it said. Gold reserves and special drawing rights remained static at $3,920 million and $3 million respectively, the central bank added. The reserve tranche position (RTP) with the international monetary policy saw inflows of $3 million to raise it to $1,215 million.
Mumbai, Nov. 29: The Reserve Bank of India today notified that foreign institutional investors, non-resident Indians and persons of Indian origin cannot make further purchases of Bharti Tele-Ventures Ltd’s equity shares without prior approval of the central bank. They cannot make these additional purchases as the company has reached the trigger limit of 48.5 per cent of its paid up capital, an RBI release said here.