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| Analysts said the healthy build-up in forex reserves was due to strong inflows via exporters and foreign institutional investors (FIIs). |
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| They also pointed out that the Reserve Bank of India (RBI) was mopping up dollars through public sector banks to stem the rupee's drastic appreciation, which might have proved detrimental to the exporters. |
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| The surge in the forex kitty was mainly due to the increase in foreign currency assets which grew by $ 1.128 billion (Rs 5,796 crore). Gold reserves and special drawing rights (SDRs) remained unchanged at $ 3.052 billion and $ 10 million, respectively. As on March 22, loans and advances extended by the RBI to the Central government were nil. |
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| Non-food credit, extended by scheduled commercial banks (SCBs) during the fortnight ended March 8, was at Rs 2,885 crore. As on March 8, non-food credit stood at Rs 49,224 crore compared with Rs 55,525 crore in the corresponding period of the last fiscal. |
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| Food credit, extended during the fortnight, was Rs 342 crore compared with (-)Rs 1,419 crore in the previous fortnight. As on March 8, food credit stood at Rs 13,913 crore compared with Rs 14,237 crore in the corresponding period of the previous fiscal. |
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| Aggregate deposits of SCBs grew by Rs 5,514 crore during the reporting fortnight. As on March 8, the aggregate deposits of banks stood at Rs 10,89,901 crore, while the outstanding bank credit stood at Rs 5,74,571 crore. |
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| Investments by SCBs in the reporting fortnight were at Rs 686 crore, while outstanding invesments were at Rs 4,36,865 crore. As on March 8, investments by SCBs was higher at Rs 66,706 crore compared with Rs 56,678 crore in the corresponding period of the previous fiscal. |
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