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‘There will not be a situation like Sri Lanka and Pakistan in India’, Raghuram Rajan praises RBI

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‘There will not be a situation like Sri Lanka and Pakistan in India’, Raghuram Rajan praises RBI

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Former RBI Governor Raghuram Rajan Praises RBI: Former Governor of Reserve Bank of India (RBI) Raghuram Rajan has praised RBI. He said, ‘The Reserve Bank of India (RBI) has done a good job in increasing the foreign exchange reserves and the country will not face economic problems like Sri Lanka and Pakistan. We have sufficient foreign exchange reserves, the Reserve Bank has done a good job in increasing the reserves. We are not in danger of having problems like Sri Lanka and Pakistan. RBI Governor told news agency ANI that the foreign debt on our country is also less.

At the same time, on the inflation of the country, the former RBI governor said that the increase in policy rates by the RBI will help in reducing the inflationary pressure. Along with this, he also said that at this time there is inflation in the whole world. RBI is increasing its interest rates continuously, which will help in reducing inflation. He told that the highest inflation is in food and fuel. All of us are clearly seeing that food inflation is decreasing in the world and in the coming time it will decrease in India also.

Decline in foreign exchange reserves
According to new RBI data, India’s foreign exchange (forex) reserves stood at $571.56 billion for the week ended July 22. Whereas during the week ended July 22, there was a decline of $ 1.152 billion in foreign exchange reserves. According to RBI’s weekly statistical supplement, forex reserves declined during the week ended July 22 due to decline in forex assets, while all other components of forex reserves posted gains during the week.

RBI data status
India’s foreign currency assets, which are the largest component of foreign exchange reserves, fell by $ 1.426 billion to $ 510.136 billion during the week ended July 22. Forex assets had declined by $6.527 billion and $6.656 billion during the week ended July 15. RBI data shows that the value of India’s special drawing rights with the International Monetary Fund increased by $106 million to $17.963 billion in the week under review.

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