“To some extent the Reserve Bank of India (RBI) has already started diversifying from US Treasuries,” Sitharaman said in an interview to Network18's Group Editor-in-Chief Rahul Joshi.
Finance Minister Nirmala Sitharaman on September 5 told Network18’s Group Editor-in-Chief Rahul Joshi in an exclusive conversation that the Reserve Bank of India (RBI) has already started diversifying its holding in the US Treasuries, along with purchasing of gold.
“To some extent the Reserve Bank of India (RBI) has already started diversifying from US Treasuries,” Sitharaman said in an interview.
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“I don’t want divulge in to how they are diverting, but I think the RBI has taken very considered decision and they have also done by purchasing gold,” she added.
Read More: Bond yields becoming unsustainably high has a big bating on central, state govt, says FM Sitharaman
On June 25, 2025, Moneycontrol had reported that India and China - two of the top 15 economies holding sizeable US treasuries - have reduced their exposure to US debt between 2024 and 2025 following credit rating downgrades by Moody’s and Fitch Ratings, along with America’s soaring national debt.
According to Bloomberg data, China has reduced exposure to US treasuries by 1.8 percent or $13.5 billion in its portfolio, while India has cut holdings by 0.4 percent or $1 billion between April 2024 and 2025.
China’s holding of US Treasuries came down to $757.2 billion as on April 2025 from $770.7 billion a year ago, while India’s holding fell to $232.5 billion as on April 2025 from $233.5 billion a yar ago.
Read More: 'We need more trade talks with China,' says FM Sitharaman
During this period, the yield on 10-year US treasury bills were in the range of 3.60-4.80 percent. The US had faced heightened uncertainties during 2024 and 2025 due to change in political leadership, imposition of tariff, talk of a recession along with fears of a potential economic slowdown.
ChornWork2 on September 8th, 2025 at 01:20 UTC »
countries make this type of claim all the time, but invariably massively overstate the actual change. the reason they held US securities wasn't because they liked the american govt.
Normal_Imagination54 on September 7th, 2025 at 16:27 UTC »
SS: Finance Minister Nirmala Sitharaman on September 5 told Network18’s Group Editor-in-Chief Rahul Joshi in an exclusive conversation that the Reserve Bank of India (RBI) has already started diversifying its holding in the US Treasuries, along with purchasing of gold.
“To some extent the Reserve Bank of India (RBI) has already started diversifying from US Treasuries,” Sitharaman said in an interview.
“I don’t want divulge in to how they are diverting, but I think the RBI has taken very considered decision and they have also done by purchasing gold,” she added.