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India SWF presumed
Country: India
Established: N/A
US$ Billion: N/A
Origin: Non-commodity
Summary:
News and Updates
8/21/2008
Reserve Bank of India (RBI) not keen on managing sovereign wealth fund
According to the article, "the Reserve Bank of India (RBI) is not keen on managing a sovereign wealth fund (SWF) and is in favor of setting up a dedicated autonomous entity to administer such a fund when it is set up.
RBI officials, however, told the Parliamentary Standing Committee on Finance at a recent meeting — held to discuss the issue — that the RBI would prefer a dedicated and independent entity be set up an act of Parliament to manage the wealth fund. It could purchase foreign exchange from the central bank, the RBI suggested, according to an official familiar with the matter. The RBI is not mandated to use foreign currency funds for investing in overseas assets other than treasury instruments, said the official said, who didn't want to be named. "
read more: Hindustan Times
2/21/08
Finance Ministry May Approve $5 Billion Fund for India
The government of India is considering the creation of a Sovereign Wealth Fund with an initial value of $5 billion. The Fund is part of a plan to maintain high economic growth.
Location
Website
India Ministry of Finance
1. All figures quoted are from official sources, or, where the institutions concerned do not issue statistics of their holdings, from other publicly available sources.
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