Central board of reserve bank of india, Bank

India's current account deficit (CAD) surged to USD 23 billion in the third quarter of 2021-22 from USD 9.9 billion in the previous quarter and USD 2.2 billion recorded in October-December 2020 period, the Reserve Bank of India (RBI) data showed on Thursday.The widening of CAD in the third quarter of 2021-22 was mainly on account of a higher trade deficit, the RBI said in a statement.India's current account deficit (CAD) increased to USD 23.0 billion (2.7 per cent of GDP) in Q3:2021-22 from USD 9.9 billion (1.3 per cent of GDP) in Q2:2021-22 and USD 2.2 billion (0.3 per cent of GDP) a year ago [i.e., Q3:2020-21], the RBI said.India recorded a current account deficit of 1.2 per cent of GDP in April-December 2021 as against a surplus of 1.7 per cent in April-December 2020 on the back of a sharp increase in the trade deficit.Net invisible receipts were higher in April-December 2021, on account of higher net receipts of services and private transfers.Net foreign direct investment (FDI) inflows at USD 26.5 billion in April-December 2021 were lower than USd 41.3 billion in April-December 2020.Portfolio investment recorded net outflow of USD 1.6 billion during April-December 2021 as against an inflow of USD 28.9 billion a year ago.In April-December 2021, there was an accretion of USD 63.5 billion to the foreign exchange reserves (on a balance of payment basis).In October-December 2021 period, private transfer receipts, mainly representing remittances by Indians employed overseas, amounted to USD 23.4 billion, an increase of 13.1 per cent from their level a year ago.Net outgo from the primary income account, mainly reflecting net overseas investment income payments, increased sequentially as well as on a y-o-y basis.In the financial account, net foreign direct investment recorded an inflow of USD 5.1 billion, lower than USD 17.4 billion a year ago. Portfolio investment recorded net outflow of USD 5.8 billion as against an inflow of USD 21.2 billion in Q3:2020-21.Net external commercial borrowings to India recorded an outflow of USD 0.2 billion in Q3:2021-22 as compared with USD 1.6 billion a year ago. Non-resident deposits recorded a net inflow of USD 1.3 billion as compared with USD 3.0 billion in Q3:2020-21.There was an accretion of USD 0.5 billion to the foreign exchange reserves (on a BoP basis) as compared with USD 32.5 billion in Q3:2020-21, the RBI said.( With inputs from ANI )Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Central Board Of Reserve Bank Of IndiaFOLLOW

Central board of reserve bank of india, Latest News

New Delhi, April 5 The Reserve Bank of India (RBI) on Tuesday said that it is not necessary ... ...

New Delhi, April 5 Taking a further hit later in the day, benchmark indices Sensex and Nifty ... ...

The ongoing Lines of Credit (LOCs) that India has extended to crisis-hit Sri Lanka for procurement of fuel and food have currently totalled USD 1.5 billion and the consignments will further continue, India's High Commissioner to Sri Lanka Gopal Bagla ...

Sri Lanka is reeling under a deep economic crisis as the country's foreign reserves have been depleted and the Rajapaksa government is struggling to pay for the import of fuel. ...

Sri Lanka is reeling under a deep economic crisis as the country's foreign reserves have been depleted and the Rajapaksa government is struggling to pay for the import of fuel. ...

Aurangabad, April 2: The local crime branch of Aurangabad rural police arrested a member of an inter-state gang, which ... ...

India's foreign exchange (forex) reserves dipped by $2.03 billion in the week ended March 25, recording a sharp drop for the third consecutive week, as the Reserve Bank of India (RBI) intervened in the currency markets by way of dollar sales to preve ...

India's current account deficit (CAD) surged to USD 23 billion in the third quarter of 2021-22 from USD 9.9 billion in the previous quarter and USD 2.2 billion recorded in October-December 2020 period, the Reserve Bank of India (RBI) data showed on T ...