Forex reserves cross $65 billion

India's foreign exchange reserves have crossed $66 billion following fresh foreign direct investment inflows, revaluation of US dollar vis-a...

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India’s foreign exchange reserves have crossed $66 billion following fresh foreign direct investment inflows, revaluation of US dollar vis-a-vis the Euro and export remittances for the week ending November 15.

The foreign exchange reserves continued to surge ahead to reach new record highs with inflows of $648 million to $66,024 million for the reporting week, the Reserve Bank of India said in its weekly statistical supplement here on Saturday.

Foreign currency assets during this period also rose by $646 million to reach a level of $62,734 million, RBI said. Since beginning of this fiscal, foreign exchange reserves have risen by over $11 billion.

Task force set up for Dabhol

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Mumbai: THE Government has set up a task force under the chairmanship of union power secretary R.V. Shahi for keeping a check on the day-to-day progress towards resolution of the Dabhol Power Company (DPC) imbroglio and restart the idle power project.

“Both power and finance ministries have jointly set up the task force under the secretary,” Union Power Minister Anant Geete said on the sidelines of a function organised by the Brihan Mumbai Electric Supply and Transport Undertaking (BEST) here on Saturday.