RTTNews - India's capital inflows for the fourth quarter ended March 31, 2009 are likely to be positive, reports PTI, citing the Centre for Monitoring Indian Economy's (CMIE) monthly report.
The economic think-tank forecast a net inflow of $3,740 million for the March quarter as against an outflow of $3,683 million in the previous quarter. It also anticipates a continuous rise in foreign direct investment.
The global liquidity crisis resulted in international branches of Indian banks running short of funds and consequently, led them buy dollars locally and send them overseas to their branches, the report said. And foreign banks in India too repatriated funds thereby contributing to the outflow of bank capital.
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