Forex reserves up $45 m

MUMBAI, JULY 28. After witnessing a decline in the previous week, India's foreign currency reserves have climbed up to $43,604 million for the week ended July 20, a rise of $45 million over the previous week.

The foreign currency assets increased by $45 million to $40,802 million in the reporting week, according to the Reserve Bank of India's weekly statistical supplement.

Gold reserves and special drawing rights stood at $2,798 million and $4 million respectively, remaining unchanged as compared to the previous week, the RBI said.

The foreign currency assets expressed in US dollar terms include the effect of appreciation/ depreciation of non-US currencies such as euro, sterling and yen.

Loans and advances by the RBI to Central Government increased by Rs. 820 crores in the week ended July 20 to Rs. 11,289 crores while that to the State governments fell by Rs. 82 crores to Rs. 4,396 crores, the apex bank added.

Aggregate deposits of scheduled commercial banks rose to Rs. 10,15,862 crores, up by Rs. 2,788 crores (0.3 per cent), for the fortnight ended July 13.

Bank credit in the reporting fortnight increased by Rs. 4,390 crores (0.8 per cent) to Rs. 5,23,047 crores.

Food credit increased by Rs. 438 crores to Rs. 50,778 crores while non-food credit rose by Rs. 3,952 crores to Rs. 4,72,269 crores, the RBI added.

- PTI

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