RBI NET INCOME GOES UP BY 18.7%
Article Abstract:
The Reserve Bank of India (RBI) recorded 18.7 percent growth in its net income at Rs10,743.21 crore in the year ended June 30, 1998. (gs) --------------------------------------------------------- Performance of Reserve Bank of India --------------------------------------------------------- Particulars 1997-98 1996-97 (Rs in crore) --------------------------------------------------------- Foreign investments 5,678.34 4,585.66 --------------------------------------------------------- Domestic 8,396.30 8,671.20 --------------------------------------------------------- Contingency reserve 2,158.72 4,204.92 --------------------------------------------------------- Asset development reserve 1,181.71 - --------------------------------------------------------- Net income 10,743.21 9,051.94 ---------------------------------------------------------
Comment:
Records 18.7% growth in its net income at Rs10,743.21 crore in year ended 6/30/98
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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RBI WAR CHEST TO CHECK SPECULATORS
Article Abstract:
The Reserve Bank of India has planned to increase its contingency reserve (CR) to 12 percent of its total assets by 2005 AD. This increase works out to about $8 billion based on asset figures of Rs293,500 crore as on June 30, 1998. This is being done to check currency and interest rate speculation. The RBI has increased its balance in CR to Rs13,789.41 crore as on June 30, 1998 from Rs11,230.69 crore as on June 30, 1997. It has also set up a Rs1,182 crore reserve called the Asset Development Reserve which will be included in the 12 percent calculation. (khr)
Comment:
Planns to increase its contingency reserve 12% of its total assets by 2005
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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