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RBI opposes fund from forex reserves

The Reserve Bank of India (RBI) has opposed the creation of a $20-billion sovereign wealth fund, for acquisition of energy assets overseas, out of forex reserves and wants the government to create the corpus for it from the Budget.

business Updated: Oct 13, 2011 23:21 IST

The Reserve Bank of India (RBI) has opposed the creation of a $20-billion sovereign wealth fund, for acquisition of energy assets overseas, out of forex reserves and wants the government to create the corpus for it from the Budget. A GoM headed by finance minister Pranab Mukherjee on Thursday discussed possible ways of creating a fund on the lines of ones that exit in countries like China.

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