Net claims of non-residents on India declined by $19.8 bn in Q2: RBI

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Net claims of non-residents on India declined by $19.8 bn in Q2: RBI - Business Standard

Quick Summary:

Higher rise in Indian residents' overseas financial assets (USD 66.5 billion) compared to that in the foreign-owned assets in India (USD 46.7 billion) led to a decline in net claims of non-residents during the quarter.

Net claims of non-residents on India declined by USD 19.8 billion during the second quarter of the current financial year to USD 348.5 billion in September 2024, according to RBI data released on Monday.

"Over 80 per cent of the increase in overseas financial assets during July-September 2024 was due to the surge of USD 53.8 billion in the reserve assets," said data on 'India's International Investment Position (IIP), September 2024'.