![The tale of India’s forex reserves](https://images.assettype.com/fortuneindia%2F2019-01%2F052d45b2-7f50-49d2-8990-f5d346d039da%2FRBI_LEAD_IMAGE.jpg?rect=0,114,5209,2605&w=300&q=95)
The tale of India’s forex reserves
In the week ended October 4, India’s forex kitty swelled to an all-time high of $437.8 billion. In the 471 weeks from October 2010, it has crossed the $400-billion mark 81 times.
In the week ended October 4, India’s forex kitty swelled to an all-time high of $437.8 billion. In the 471 weeks from October 2010, it has crossed the $400-billion mark 81 times.
Based on the Bimal Jalan committee recommendations, the central bank decides to transfer ₹52,637 crore of excess provisions, apart from ₹1,23,414 crore of surplus for FY19.
While the six-member Bimal Jalan committee looks into the contentious issue, a recent study shows that the RBI’s reserves are far in excess of what is required.