At $729 billion, India’s forex kitty a record

India’s foreign exchange reserves achieved a historic high of $729.3 billion by August 21, fueled by substantial NRI deposits under a specialized swap window. The foreign currency assets grew by $9.4 billion, while gold reserves also experienced a positive shift. The RBI’s new facility has helped gather $72.85 billion in inflows since its June launch,…

RBI plans buyback of Rs 30,000 crore GSecs

The Reserve Bank of India has announced a buyback of government securities amounting to Rs 30,000 crore, targeting those set to mature in the fiscal year 2027. This strategic decision aims to alleviate the impending redemption pressure, as over Rs 6 lakh crore in securities are approaching maturity. The buyback is scheduled for September 3.