Net claims of non-residents on India declined by US$ 12.2 billion during October-December 2023 to US$ 370.4 billion as at end-December 2023, according to a latest update from the Reserve Bank of India (RBI). The decline in net claims was due to the higher rise in Indian residents’ overseas financial assets (US$ 40.7 billion) as compared to the increase in foreign-owned assets in India (US$ 28.5 billion).
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