RBI supersedes Board of New India Co-operative Bank; customers in distress
The Reserve Bank of India (RBI) has superseded the Board of Directors of New India Co-operative Bank for 12 months, citing poor governance standards.
India’s foreign exchange (Forex) reserves kitty increased by $1.20 billion as on November 24, 2017, official data showed on Friday.
The Reserve Bank of India’s (RBI) weekly statistical supplement released on Friday showed that the overall Forex reserves rose to $400.74 billion from $399.53 billion reported for the week ended November 17.
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India’s Forex reserves comprise of foreign currency assets (FCAs), gold reserves, special drawing rights (SDRs) and the RBI’s position with the International Monetary Fund (IMF).
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