India’s forex reserves touch all-time high of $648.7 billion: RBI data
This is the third consecutive week of increase in the overall kitty, which had increased by $2.561 billion to $644.151 billion in the previous reporting week ended May 17.
This is the third consecutive week of increase in the overall kitty, which had increased by $2.561 billion to $644.151 billion in the previous reporting week ended May 17.
The decline is driven by mainly due to lower merchandise trade deficit and growth in services exports, it added.
Credit growth to the services sector decelerated moderately to 8.4 per cent in January 2021 from 8.9 per cent in January 2020.
Investment of USD 287.63 million was in the form of issuance of guarantee, as per the data.
In the fiscal 2019-20, all bank groups recorded moderation in credit growth, though private sector banks continued to lead the growth.
The operating profits of services companies (IT and non-IT) decelerated due to moderation in sales growth during the last quarter of 2019-20, it said.
