Raghuram Rajan: RBI holds Rs 8 lakh crore of government bonds

Mumbai, Apr 11: Reserve Bank Governor Raghuram Rajan today said the central bank holds around Rs 8 lakh crore of government bonds with it.

"We have about Rs 8 lakh crore of government bonds," Rajan said at the launch of Unified Payments Interface (UPI) system here today.

RBI's government securities accumulation happens either from buying through the markets or through open market operations. Rajan also said the country's foreign exchange reserves has touched nearly USD 360 billion.

In the week to April 1, the country's foreign exchange reserves surged by USD 4.2 billion to touch a record high of USD 359.759 billion.

Rajan today launched UPI that will empower users to perform instant push and pull transaction seamlessly. He said the country is on the cusp of technological revolution and has the most sophisticated public payment infrastructure in the world that can be accessible by anybody.

PTI