Forex reserves decline by USD 2.36 bn to USD 583.53 bn
Mumbai, (PTI): India's forex reserves declined by USD 2.36 billion to USD 583.53 billion during the week ended October 20, according to the Reserve Bank of India data.
In the previous reporting week, the overall reserves had increased by USD 1.153 billion to USD 585.895 billion.
In October 2021, the country's forex kitty reached an all-time high of USD 645 billion. The reserves took a hit as the central bank deployed the reserves to defend the rupee amid pressures caused majorly by global developments since last year.
For the week ended October 20, the foreign currency assets, a major component of the reserves, decreased by USD 4.15 billion to USD 515.2 billion, according to the Weekly Statistical Supplement released by the RBI.
Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.
Gold reserves were up by USD 1.85 billion to USD 45.42 billion during the week, the RBI said.
The Special Drawing Rights (SDRs) were down by USD 70 million to USD 17.93 billion, the apex bank said.
India's reserve position with the IMF increased by USD 6 million to USD 4.98 billion in the reporting week, the apex bank data showed.
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Have won in people’s court, says Karnataka CM Siddaramaiah on by-poll results
Bengaluru (PTI): Buoyed by the assembly election by-polls, which saw the ruling Congress sweeping in all the three seats, Karnataka Chief Minister Siddaramaiah on Saturday said he won in the ‘people’s court’.
He gave credit to the guarantee schemes for the party’s victory in the assembly bypolls in Sandur, Shiggaon and Channapatna.
“You know what Mahatma Gandhi said. He said people’s court is better than the courts. Now people’s court has given me its verdict,” Siddaramaiah told reporters.
This victory was significant for the Congress as the BJP and JD(S) formed an alliance, he explained.
“We won from Kalyana Karnataka (Sandur), Kittur Karnataka region (Shiggaon), and old Mysuru region (Channapatna). In all the places we won. So, this is very significant."
“After our government came to power about one and half years ago, the BJP made false allegations on me and my government. They also spread lies about our schemes,” Siddaramaiah said.
The CM is an accused in the MUDA site allotment scam where 14 sites in upmarket of Mysuru was allotted to his wife, Parvathi. After the controversy broke out, Parvathi returned the sites to MUDA.
He also came down heavily on the opposition BJP and JD(S) for their lies and ‘baseless allegations’.
The Chief Minister also took a swipe at JDS supremo H D Deve Gowda and his son Union Minister H D Kumaraswamy for "crying" in public during elections.
“Deve Gowda and his sons cry, but didn’t their heart melt when several women cried in the Prajwal Revanna case in Hassan?” he asked.
Former JD(S) MP and grandson of former Prime Minister H D Deve Gowda, Prajwal Revanna is in jail for allegedly sexually assaulting several women and filming them.
