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The latest balance of payments figures released by the Reserve Bank of India (RBI) shows that the current account deficit of India remained flat at $12.62 billion during Jul-Sep 2009 compared to $12.57 billion in Jul-Sep 2008. A rise in portfolio inflows resulted in a surge in capital account surplus of $23.6 billion ($7.1 billion), pushing the balance of payments position to a surplus of $9.4 billion (deficit of $4.7 billion).
Trade deficit was lower at $32.2 billion ($39.1 billion) and surplus arising …