RBI’s income plummets on low returns
The Reserve Bank of India's (RBI) income for 2009-10 fell nearly 46% compared with the previous year as a rates of return on assets fell and net interest payments increased, the central bank's Annual Report, released Tuesday, showed.
The central bank's income from its foreign currency assets and gold fell 50.58%, from Rs.507.96 billion ($10.81 billion) in 2008-9 to Rs.251 billion last year, its accounts revealed. "This was due to lower yield on foreign securities and lower interest received on
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