25.08.2011 - India: RBI agrees to dip into forex for energy fund
Keen to ensure energy security as it strives for double-digit growth, the government has finally decided to take forward its long pending plan to set up a sovereign wealth fund. The fund is likely to have a corpus of $10 billion, though government sources indicated that its size could be reviewed in view of the soaring global crude oil prices. “An in-principle approval has been taken to set up a sovereign wealth fund. Its size and contours will be finalised over the next few months,” an official close to the development said..............................................Full Article: Source
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