RBI profits fall on low return from foreign assets

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The Reserve Bank of India on Friday reported a Rs150 billion ($3.25 billion) profit for the year ending June 30, 2011, down from Rs187.6 billion the previous year.

The entire profit was transferred to the government.

In its Annual Report, the central bank said the decline in profits reflected low interest rates in international markets, which had led to a 15.8% decline in income from foreign assets to Rs211.5 billion. Foreign currency assets comprise foreign securities and balances held abroad.

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