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RBI Reports Net USD 8.52 Billion Purchase in H1FY25.

Banking & Finance | Dated: 03 Dec 2024

In the first half of the Fiscal Year 2024-2025 (April-September 2025/H1FY25), the Reserve Bank of India (RBI), in its 'RBI Bulletin November 2024,' reported a net purchase of USD 8.52 billion in foreign currency assets, compared to USD 17.68 billion in H1FY24.

🎯 Key Highlights:

- As of September 2024, the RBI recorded a net purchase of USD 32.27 billion, including USD 9.6 billion in September alone.

💡 Other Important Facts:

(i) The RBI is set to launch its first local cloud storage service in 2025. This initiative aims to provide cost-effective cloud solutions tailored for financial institutions, competing with global players like Amazon Web Services (AWS), Microsoft Azure, and Google Cloud.
(ii) Exercising its powers under Section 47A(1)(c) read with Section 46(4)(i) of the Banking Regulation Act, 1949, the RBI has imposed a penalty of Rs 61.40 lakh on RBL Bank Limited for non-compliance with Know Your Customer (KYC) regulations.

📚 Test Your Knowledge:

Recently, what was the net foreign currency purchase reported by RBI in H1 FY25?

Correct Answer: USD 8.52 billion

🚀 Quick Recap:

About RBI

Governor : Sanjay Malhotra
Headquarter : Mumbai