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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Fighting against Joshi's divisive tactics, oppression of Veerashaiva-Lingayats: Dingaleshwar Swami
Hubballi: Fakira Dingaleshwara Swami, the pontiff of the Shirahatti Mutt, who recently withdrew his nomination as an Independent candidate from the Dharwad constituency, has renewed his criticism of Union Minister Pralhad Joshi, accusing him of employing divisive tactics and oppressing the Veerashaiva-Lingayat community.
Addressing reporters in Hubballi on Saturday, the pontiff asserted his intention to challenge the BJP candidate, Joshi, whom he accuses of hindering the progress of Lingayats and Veerashaivas. Dingaleshwara Swami alleged that Joshi had thwarted the development of Dharwad despite representing the constituency for two decades. He questioned Joshi's track record in facilitating Central government appointments for locals and in allocating funds for Dharwad's development.
Accusing Joshi of pursuing a policy of divide-and-rule, Dingaleshwara Swami claimed that the BJP candidate regularly met with senior pontiffs to exert pressure on him. The pontiff warned Joshi against attempting to divide the mentor-disciple relationship between himself and the Shirahatti Mutt's senior pontiff, suggesting that such actions could lead to Joshi's marital separation. He also claimed to possess video evidence of Joshi's meetings with various pontiffs during the election period.
Critiquing Joshi's focus on the recent tragic incident involving Neha Hiremath in Hubballi, Dingaleshwara Swami accused him of exploiting the situation for political gain. The pontiff emphasized Joshi's alleged neglect of the backward classes and Lingayats throughout his tenure as MP.
Dingaleshwara Swami affirmed his desire for Joshi's defeat, citing significant cultural and social changes in Dharwad since Joshi assumed office. He also highlighted the alleged absence of government grants to mutts in the Dharwad constituency over the past 15 years.
