Mumbai, June 28: India's foreign exchange reserves declined by US dollar 301 million at USD 82,120 million during the week ended June 20, 2003, due to the contribution to the International Monetary Fund under the Financial Transactions Plan (FTP). The Foreign Currency Assets (FCA) fell by USD 301 million at USD 78,446 million during the period under review, according to Reserve Bank of India's weekly statistical supplement here today.
RBI said the supplement shows an increase in India's FTP by USD 291.17 million and an equivalent amount has been drawn from the FCA, which is reflected for the current week. The gold and special drawing rights remained unchanged at USD 3,673 million and USD one million respectively.
The loans and advances to central government increased by Rs 4,430 crore at Rs 6,537 crore while that to states fell by Rs 275 crore at Rs 2,214 crore, the apex bank said. Aggregate deposits of scheduled commercial banks during the fortnight ended June 13 increased by Rs 2,791 crore (0.2 per cent) to Rs 13,31,373 crore while bank credit declined by Rs 524 crore to Rs 7,30,130 crore.
Food credit during this period was down by Rs 482 crore at Rs 50,565 crore while non-food credit fell by Rs 41 crore at Rs 6,79,565 crore, the apex bank added. Bureau Report