Month: October 2021

Avanti Finance completes Series A and debt funding round, raises ₹306 crore

Banking & Finance

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Technology led NBFC Avanti Finance has further raised $15 million or about ₹111 crore in Series A2 from existing investors Oikocredit, Nomura, The Bill & Melinda Gates Foundation and Dr KR Shroff Foundation. With this, it has completed their Series A and debt funding round, which raised a total of $41 million or ₹306 crore.

Also read: Should you subscribe to the Nykaa IPO?

“Avanti will use the funds to strengthen its deep tech platform, bolster data science, enhance its product suite and expand the team to enable unparalleled access to affordable credit and financial empowerment to millions of unserved and underserved households in India,” it said in a statement.

Rahul Gupta, CEO of Avanti said, “The Avanti team is excited and ready to accelerate our mission. We are grateful to our board and investors for reposing their faith in our unique business model to democratise credit to the next 100 million households and make every loan an impact story.”

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4 Stocks With Top Piotroski Score And High Dividend Yield

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PNB Gilts

In the fiscal year ended March 31, 2021, the company generated a return on equity of 34.49 percent, surpassing its five-year average of 17.23 percent. The stock returned 144.26 percent over three years, compared to 91.22 percent for the Nifty Smallcap 100. PNB Gilts Ltd., founded in 1996, is a Small Cap business in the Financial Services industry with a market capitalization of Rs 1,187.17 crore.

Since July 3, 2001, PNB Gilts has paid out 24 dividends. PNB Gilts Ltd. has given a Rs 10.00 per share equity dividend in the last 12 months. This amounts to a dividend yield of 15.16 percent at the current share price of Rs 65.95.

B P C L

B P C L

Bharat Petroleum Corporation Limited (BPCL) is an Indian oil and gas company owned by the government. It is owned by the Indian government’s Ministry of Petroleum and Natural Gas, which is based in Mumbai, Maharashtra. Kochi and Mumbai are home to two big refineries.

The stock returned 55.41 percent over three years, compared to 80.19 percent for the Nifty 100 index. Over a three-year period, the stock returned 55.41 percent, while Nifty Energy returned 80.22 percent to investors. Since June 18, 2001, Bharat Petroleum Corporation Ltd. has announced 35 dividends.

Bharat Petroleum Corporation Ltd. has declared an equity dividend of Rs 79.00 per share in the last 12 months.

This translates to an 18.41% dividend yield at the current share price of Rs 429.00.

Polyplex Corporation

Polyplex Corporation

Polyplex is an Indian multinational firm that manufactures biaxially oriented polyester film for use in packaging, electrical, and other industrial applications. Only 3.25 percent of trading sessions in the last 16 years had intraday gains of more than 5%. In the fiscal year ended March 31, 2021, the company delivered an ROE of 16.76 percent, surpassing its five-year average of 11.06 percent. The stock returned 245.74 percent over three years, compared to 91.22 percent for the Nifty Smallcap 100.

Since September 5, 2000, Polyplex Corporation Ltd. has declared 38 dividends. Polyplex Corporation Ltd. has declared an equity dividend of Rs 165.00 per share in the last 12 months. This translates to a dividend yield of 9.66 percent at the current share price of Rs 1707.20.

Goodyear India

Goodyear India

The company has enough cash on hand to cover all of its potential liabilities. In comparison to the Nifty Smallcap 100, which returned 91.22 percent over three years, the stock returned 12.81 percent. Since 2005, the company has had no debt.

In comparison to the Nifty Smallcap 100, which returned 91.22 percent over three years, the stock returned 12.81 percent. Over a three-year period, the stock yielded 12.81 percent, while the Nifty Auto yielded 33.51 percent.

Since May 30, 2007, Goodyear India has paid out 18 dividends.

Goodyear India Ltd. distributed an equity dividend of Rs 178.00 per share in the last 12 months.

This amounts in a dividend yield of 17.39 percent at the current share price of Rs 1023.70.

4 Stocks With Top Petroski Score And High Dividend Yield

4 Stocks With Top Petroski Score And High Dividend Yield

Company Petroski Score Dividend Yield Price
PNB Gilts 9.00 15.16 65.95
B P C L 8.00 18.41% 427.70
Polyplex Corpn 8.00 9.66% 1710.40
Goodyear India 8.00 17.39% 1029.10

Disclaimer

Disclaimer

Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies, the author, and the brokerage house are not liable for any losses caused as a result of decisions based on the article. This article is for educational purpose.



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wgc: India’s gold demand could jump in Q4 on festivals, pent-up purchases

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MUMBAI – India‘s gold demand could strengthen significantly in the fourth quarter, the World Gold Council (WGC) said on Thursday, with a drop in global prices and the release of pent-up demand expected to lift jewellery sales during the peak festive season.

Higher demand from the world’s second-biggest gold consumer could help support spot prices after a near 5% correction so far this year, but a rise in imports of the metal would widen India’s trade deficit and weigh on the rupee.

“The fourth quarter is likely to be one of the best quarters in recent years. Pent-up demand, softening of gold prices and weddings will drive the demand,” Somasundaram PR, regional chief executive officer of WGC’s Indian operations, told Reuters.

Demand for the precious metal usually spikes towards the end of the year in India, as buying gold for weddings and major festivals such as Diwali and Dussehra is considered auspicious.

Demand for the precious metal usually spikes towards the end of the year in India, as buying gold for weddings and major festivals such as Diwali and Dussehra is considered auspicious.

Indians celebrated Dussehra earlier this month and anecdotal feedback from manufacturers indicated strong sales, he said.

The pick-up in retail demand gave confidence to manufacturers, and imports in the September quarter jumped 187% from a year ago to 255.6 tonnes, he said.

In a report published on Thursday, the WGC said gold demand jumped 47% in the third quarter from a year earlier to 139.1 tonnes as jewellery demand surged 58% to 96.2 tonnes.

Demand for coins and bars – known as investment demand – rose 27% in the same period to 42.9 tonnes as investors increased hedging amid a stock market rally, the WGC said.
Somasundaram did not provide a demand estimate for 2021, but said demand could be better than 2019’s 690.4 tonnes and well above 2020’s 446.6 tonnes.

“With restrictions being gradually lifted across the country, retail demand is bouncing back to pre-Covid levels. With the upcoming festive and wedding season, there is all the more enthusiasm towards gold demand,” he said.



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Top 4 Banks Promising Cheapest Rates On Home Loans This Festive Season 2021

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Union Bank of India

Union Bank of India unveiled its ‘Loan Utsav’ deal yesterday, claiming the lowest rate of 6.40 percent on home loans, as well as a 100 percent waiver of processing fees. Union Bank is giving a 6.40 percent interest rate for salaried individuals and 6.50 percent for non-salaried individuals having a CIBIL score of 800 or above. The bank is providing a 6.50 percent interest rate on home loans to salaried borrowers with a CIBIL score of 750 to 799 and a 6.60% percent interest rate to non-salaried borrowers.

From October 27 to November 30, 2021, the applicable rate of interest will be in force for all new home loan customers (including switchovers from other Benchmarks, such as MCLR, Base Rate, or BPLR to EBLR). Individually or jointly, Indian nationals and NRIs with a minimum entry age of 18 years and a maximum exit age of 75 years can apply for a home loan.

Punjab & Sind Bank

Punjab & Sind Bank

Punjab & Sind Bank is now accepting bids for its upcoming MEGA e-Auction on October 30th, 2021. The bank claims it would offer 313 quality residential, commercial, and industrial properties throughout India’s major cities, all of which will be auctioned under the Drt/Sarfaesi Act. On the other hand, the bank is giving a 6.50 percent interest rate on the PSB Apna Ghar scheme. “Own your dream home with “PSB Apna Ghar – सहज” packed with attractive features such as concessions in ROI, Nil Processing Charges and other added benefits,” the bank has claimed via its Twitter handle.

Under the home loan scheme, the bank is also promising zero processing / inspection / prepayment charges, 50% concession in locker rent, longest repayment period of up to 30 years and much more which is valid till 10.11.2021. The PNB Apna Ghar scheme can be utilized to build a residential home, purchase a plot, extend, repair, or renovate an existing home.

Kotak Mahindra Bank

Kotak Mahindra Bank

With the advantages of quick loan approval, simple documentation, low processing fees, and more, Kotak Mahindra Bank is currently offering a 6.50 percent interest rate on home loans. The deal is available from September 10th until November 8th, 2021. The bank promises a 6.50 percent to 7.10 percent interest rate on any loan amount for salaried borrowers, and a 6.65 percent to 7.25 percent interest rate for non-salaried borrowers. For home loan balance transfers, the relevant interest rate for salaried borrowers will be 6.50 percent and for non-salaried borrowers would be 6.60 percent for any loan amount. “We are serious! Kotak Home Loans starting at surprisingly low interest rates of 6.5%* p.a! Now get your dream home in reality. Hurry! Offer valid from 10-Sep to 8-Nov-21,” the bank has said via its Twitter handle.

Bank of Baroda

Bank of Baroda

Bank of Baroda is now offering home loans with interest rates starting at 6.50 percent, with enticing benefits such as low processing charges, higher loan amounts, free credit card, free accidental insurance, longer repayment tenures, easy top-up loans, quick loan approval, easy documentation, and an online application process through BoB World. Under the festive deal, the bank is offering the said interest rate to both salaried and non-salaried individuals and the bank has claimed in a statement that “With the onset of festive season and to make home buying more affordable for customers, the Bank has extended this offer and the special rate will be available till December 31, 2021. The new rates will be available for customers applying for fresh loans, loan transfer or looking to refinance their existing loans making the offer more inclusive. Nil processing fee on home loan was already on offer and has been extended till 31/12/21.”



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Reserve Bank of India – Press Releases

Press Releases

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(Amount in ₹ crore, Rate in Per cent)
  Volume
(One Leg)		 Weighted
Average Rate 		Range
A. Overnight Segment (I+II+III+IV) 492,456.84 3.36 2.00-5.20
     I. Call Money 7,721.58 3.28 2.00-3.50
     II. Triparty Repo 397,446.95 3.35 3.10-3.40
     III. Market Repo 87,278.31 3.39 2.00-3.50
     IV. Repo in Corporate Bond 10.00 5.20 5.20-5.20
B. Term Segment      
     I. Notice Money** 208.50 3.33 2.75-3.40
     II. Term Money@@ 174.00 – 3.20-3.60
     III. Triparty Repo 1,510.00 3.35 3.30-3.38
     IV. Market Repo 298.81 3.30 3.13-3.65
     V. Repo in Corporate Bond 810.00 3.70 3.70-3.70
  Auction Date Tenor (Days) Maturity Date Amount Current Rate /
Cut off Rate
C. Liquidity Adjustment Facility (LAF) & Marginal Standing Facility (MSF)
I. Today’s Operations
1. Fixed Rate          
     (i) Repo          
    (ii) Reverse Repo Wed, 27/10/2021 1 Thu, 28/10/2021 179,641.00 3.35
    (iii) Special Reverse Repo~          
    (iv) Special Reverse Repoψ          
2. Variable Rate&          
  (I) Main Operation          
     (a) Reverse Repo          
  (II) Fine Tuning Operations          
     (a) Repo          
     (b) Reverse Repo          
3. MSF Wed, 27/10/2021 1 Thu, 28/10/2021 324.00 4.25
4. Special Long-Term Repo Operations (SLTRO) for Small Finance Banks (SFBs)£          
5. Net liquidity injected from today’s operations
[injection (+)/absorption (-)]*		       -179,317.00  
II. Outstanding Operations
1. Fixed Rate          
    (i) Repo          
    (ii) Reverse Repo          
    (iii) Special Reverse Repo~ Fri, 22/10/2021 12 Wed, 03/11/2021 5,465.00 3.75
    (iv) Special Reverse Repoψ Fri, 22/10/2021 12 Wed, 03/11/2021 2,900.00 3.75
2. Variable Rate&          
  (I) Main Operation          
     (a) Reverse Repo Fri, 22/10/2021 12 Wed, 03/11/2021 418,395.00 3.99
  (II) Fine Tuning Operations          
     (a) Repo          
     (b) Reverse Repo Tue, 26/10/2021 7 Tue, 02/11/2021 200,019.00 3.99
3. MSF          
4. Long-Term Repo Operations# Mon, 17/02/2020 1095 Thu, 16/02/2023 499.00 5.15
  Mon, 02/03/2020 1094 Wed, 01/03/2023 253.00 5.15
  Mon, 09/03/2020 1093 Tue, 07/03/2023 484.00 5.15
  Wed, 18/03/2020 1094 Fri, 17/03/2023 294.00 5.15
5. Targeted Long Term Repo Operations^ Fri, 27/03/2020 1092 Fri, 24/03/2023 12,236.00 4.40
  Fri, 03/04/2020 1095 Mon, 03/04/2023 16,925.00 4.40
  Thu, 09/04/2020 1093 Fri, 07/04/2023 18,042.00 4.40
  Fri, 17/04/2020 1091 Thu, 13/04/2023 20,399.00 4.40
6. Targeted Long Term Repo Operations 2.0^ Thu, 23/04/2020 1093 Fri, 21/04/2023 7,950.00 4.40
7. On Tap Targeted Long Term Repo Operations€ Mon, 22/03/2021 1095 Thu, 21/03/2024 5,000.00 4.00
  Mon, 14/06/2021 1096 Fri, 14/06/2024 320.00 4.00
  Mon, 30/08/2021 1095 Thu, 29/08/2024 50.00 4.00
  Mon, 13/09/2021 1095 Thu, 12/09/2024 200.00 4.00
  Mon, 27/09/2021 1095 Thu, 26/09/2024 600.00 4.00
  Mon, 04/10/2021 1095 Thu, 03/10/2024 350.00 4.00
8. Special Long-Term Repo Operations (SLTRO) for Small Finance Banks (SFBs)£ Mon, 17/05/2021 1095 Thu, 16/05/2024 400.00 4.00
Tue, 15/06/2021 1095 Fri, 14/06/2024 490.00 4.00
Thu, 15/07/2021 1093 Fri, 12/07/2024 750.00 4.00
Tue, 17/08/2021 1095 Fri, 16/08/2024 250.00 4.00
Wed, 15/09/2021 1094 Fri, 13/09/2024 150.00 4.00
D. Standing Liquidity Facility (SLF) Availed from RBI$       21,695.80  
E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     -519,441.2  
F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     -698,758.2  
G. Cash Reserves Position of Scheduled Commercial Banks
     (i) Cash balances with RBI as on 27/10/2021 604,717.97  
     (ii) Average daily cash reserve requirement for the fortnight ending 05/11/2021 636,507.00  
H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ 27/10/2021 0.00  
I. Net durable liquidity [surplus (+)/deficit (-)] as on 08/10/2021 1,192,495.00  
@ Based on Reserve Bank of India (RBI) / Clearing Corporation of India Limited (CCIL).
– Not Applicable / No Transaction.
** Relates to uncollateralized transactions of 2 to 14 days tenor.
@@ Relates to uncollateralized transactions of 15 days to one year tenor.
$ Includes refinance facilities extended by RBI.
& As per the Press Release No. 2019-2020/1900 dated February 06, 2020.
* Net liquidity is calculated as Repo+MSF+SLF-Reverse Repo.
# As per the Press Release No. 2020-2021/287 dated September 04, 2020.
^ As per the Press Release No. 2020-2021/605 dated November 06, 2020.
€ As per the Press Release No. 2020-2021/520 dated October 21, 2020, Press Release No. 2020-2021/763 dated December 11, 2020, Press Release No. 2020-2021/1057 dated February 05, 2021 and Press Release No. 2021-2022/695 dated August 13, 2021.
¥ As per the Press Release No. 2014-2015/1971 dated March 19, 2015.
£ As per the Press Release No. 2021-2022/181 dated May 07, 2021 and Press Release No. 2021-2022/1023 dated October 11, 2021.
~ As per the Press Release No. 2021-2022/177 dated May 07, 2021.
ψ As per the Press Release No. 2021-2022/323 dated June 04, 2021.
Ajit Prasad
Director   
Press Release: 2021-2022/1108

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Reserve Bank of India – Tenders

Tenders

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SCHEDULE OF TENDER (SOT)

Sr. No. Details Date/ Time
a. E-tender No. RBI/Central Office/Premises Department/5/21-22/ET/232
b. Mode of Tender e- Procurement System
(Online Part I – Techno-Commercial Bid and Part II – Price Bid through
www.mstcecommerce.com/eprochome/rbi)
c. Estimated Cost ₹ 32.00 lakh
d. View tender – Date, Time on MSTC Web portal 27.10.2021 at 12 noon
e. Pre-Bid meeting Online 11.30 AM of 10.11.2021
f. Earnest Money Deposit ₹ 64,000/-
 EMD in the form of Demand Draft drawn in favour of Reserve Bank of India, of a Scheduled Bank or Bank Guarantee as per proforma annexed hereto shall be deposited in original at the office of tender inviting authority on or before 2:00 PM of 22.11.2021.

EMD can also be remitted to Reserve Bank of India Account of on or before 2:00 PM of 22.11.2021. The account details for NEFT transactions are as under:

Beneficiary Name- Reserve Bank of India
IFSC : RBIS0COD001
Account No: 41869163273

Proof of remittance indicating transaction number and other details shall be uploaded on Bank’s approved e-tender portal along with other tender documents
g. Bid Start date– Date of Starting of e-Tender for submission of on line Techno-Commercial Bid and price Bid at www.mstcecommerce.com/eprochome/rbi 10:00 AM of 11.11.2021
h. Bid close date– Date of closing of online e-tender for submission of Techno-Commercial Bid & Price Bid 2:00 PM of 22.11.2021
i. a. Tender open Date:-
Date & time of opening of Part –I
(i.e. Techno – Commercial Bid).

b. Date of opening of Part – II (i.e. Price Bid)

 a. 3.00 PM of 22.11.2021

b. shall be informed separately to the bidders eligible for Part II of the tender

Note: The firms shall pay the mandated transaction fee to MSTC payment gateway in favour of MSTC LIMITED

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Sebi proposes new norms for MFs’ ESG investments, BFSI News, ET BFSI

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Mumbai: The Securities and Exchange Board of India (Sebi) has proposed to revise the investment norms for mutual fund schemes that invest as per the ESG (Environment, Sustainability and Governance) philosophy.

The markets regulator has proposed that from October 1, 2022, asset management companies should only invest in securities with Business Responsibility and Sustainability Report (BRSR) disclosures.

The existing investments in the schemes for which there are no BRSR disclosures would be grandfathered by Sebi until September 30, 2023. In ESG investing, a fund manager picks companies whose operations are considered socially responsible.

Schemes, which invest in overseas securities, could choose any global equivalent of the BRSR specified by the Association of Mutual Funds in India (AMFI), Sebi said in a discussion paper on Tuesday.

Currently, these schemes fall under the thematic sub-category. A minimum of 80% of the total assets of the scheme are mandated to be invested in securities following the ESG theme. Hence, these guidelines would apply only to the portion of investment towards the ESG theme, Sebi said.

Asset management companies should endeavour to have a higher proportion of the assets under the ESG theme and make suitable disclosures, said Sebi said.

Globally, the concept of ESG investments is gaining popularity but there are no universalorms and standards.

Standard-setting bodies like IOSCO (International Organization of Securities Commissions) and FSB (Financial Stability Board) are working towards standardised disclosures for ESG funds.

“While such standards are yet to emerge, in the meanwhile, there is a need to introduce disclosure norms for domestic ESG Mutual Fund schemes considering the increased activity in this area,” Sebi said. “It is understood that these disclosure norms would further evolve and undergo changes based on learnings and experience, both on the domestic and international front.”



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PNB net up 78 per cent in Q2

Banking & Finance

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Punjab National Bank (PNB), the country’s second-largest public sector bank, on Wednesday, reported a 78 per cent increase in standalone net profit for the quarter ended September 30 at ₹ 1105 crore as compared to net profit of ₹ 621 crore in same quarter last fiscal.

The public sector bank had registered a net profit of ₹ 1024 crore in the previous quarter ended June 30 this year.

The bottomline for the quarter under review was bolstered by a tax provision write-back of ₹ 345 crore.

For the six months ended September 30, PNB’s standalone net profit grew 129 per cent to ₹ 2129 crore ( ₹ 929 crore). This half-yearly bottomline performance was higher than the entire fiscal 2020-21 net profit of ₹ 2022 crore.

Total income for the second quarter ended September 30 this fiscal stood at ₹ 21,262 crore, lower than the total income of ₹23,280 crore in the same quarter last year.

The provision towards non performing assets saw a substantial reduction for the quarter under review at ₹ 2,693 crore against ₹ 3,811 crore in the same quarter last fiscal year.

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Poonawalla Fincorp: Consolidated PBT up 151% YoY

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The board of Poonawalla Fincorp Limited (PFL) today announced its unaudited results for the quarter ended September 30, 2021 (Q2FY22).

PFL reported that assets under management grew by ~6 per cent QoQ to ₹15,275 crore, while NIM increased by 104 bps YoY to 9.1 per cent in Q2 of this fiscal (eight per cent in Q2 of FY21), driven largely by a reduction in interest expenses.

“Consolidated PBT was up 151 per cent YoY, increasing from ₹50 crore in Q2FY21 to ₹126 crore in Q2FY22, driven largely by a reduction in interest expenses and credit costs. Collections showed an improving trend from 93.1 per cent in June 21 to 98 per cent in July 21 and further to 99.9 per cent in September 21.

Consequent to improvement in collections in Q2of FY22, gross stage 3 and net stage 3 assets decreased from 5.4 per cent and 2.7 per cent, respectively, as at June 21 to 4.1 per cent and 2.0 per cent, respectively as at September 21 on a consolidated basis. The company has one of the best provision coverage ratios across all three stages. The standard asset coverage ratio as at September 21 stands at 3.4 per cent (3.0 per cent in September 20); Stage 3 asset coverage ratio stands at 52 per cent (38 per cent in September 20).

Liquidity and cost of borrowings

The company continues to maintain a strong liquidity position with around ₹1,700 crore of surplus liquidity, with additional term loan sanctions in the hand of ₹1,750 crore. A significant amount of existing loans were repriced in Q2FY22, with a reduction of over 120 bps. New sanctions received at sub-6.5 per cent. The company’s long-term rating was upgraded by two notches to ‘AA+; Stable’ by Care Ratings following its review process. The short-term rating was retained at the highest level of ‘A1+’.

Revised product focus

Pursuant to the capital infusion and rebranding, the Company launched new products like Personal loans, Loans to Professionals, and SME LAP. Other products at an advanced stage of roll-out are medical equipment loans, small ticket LAP, and co-lending/fintech partnerships.

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Gold in RBI’s forex reserves rise 11% to 744 tonnes

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The Reserve Bank of India’s holding of gold in foreign exchange reserves went up about 11 per cent year-on-year (y-o-y) to 743.84 metric tonnes as on September-end 2021 against 668.25 metric tonnes as on September-end 2020.

However, in value terms, the share of gold in the reserves declined to about 5.88 per cent against about 6.69 per cent in the year-ago period, as per the RBI’s half yearly report – Management of Foreign Exchange Reserves: April-September 2021.

Compared to September-end 2020 share of gold in the reserves (in value terms) at 5.87 per cent, the share rose marginally as on September-end 2021.

While 451.54 metric tonnes (366.91 metric tonnes as on September-end 2020) of gold is held overseas in safe custody with the Bank of England and the Bank for International Settlements (BIS), 292.30 metric tonnes (unchanged) of gold is held domestically.

Import cover

According to the report, at the end of June 2021, the foreign exchange reserves cover of imports decreased to 15.8 months from 17.4 months at March-end 2021. At the end of June 2020, the foreign exchange reserves cover of imports stood at 14.8 months.

The ratio of short-term debt (original maturity) to reserves, which was 17.5 per cent at end-March 2021, declined to 16.8 per cent at June-end 2021. This ratio stood at 20.8 per cent at June-end 2020.

The ratio of volatile capital flows (including cumulative foreign portfolio inflows and outstanding short-term debt) to reserves declined from 69 per cent at March-end 2021 to 65.5 per cent at June-end 2021. This ratio stood at 72.1 per cent at June-end 2020.

As on September-end 2021, of the total foreign currency assets (FCA) – comprising multi-currency assets that are held in multi-asset portfolios – of $573.60 billion ($502.16 billion as on September-end 2020), $383.74 billion ($370.59 billion) was invested in securities, $147.86 billion ($124.16 billion) was deposited with other central banks and the BIS and the balance $42 billion ($7.44 billion) comprised deposits with commercial banks overseas.

During the half-year period under review, reserves increased from $576.98 billion as on March-end 2021 to $635.36 billion as on September-end 2021.

On a balance of payments basis (that is excluding valuation effects), foreign exchange reserves increased by $31.9 billion during April-June 2021 as compared with $19.8 billion during April-June 2020.

Foreign exchange reserves in nominal terms (including valuation effects) increased by $34.1 billion during April-June 2021 as compared with $27.9 billion in the corresponding period of 2020-21.

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