The total international assets of banks in India increased to Rs 1,08,112 crore ($23.7 billion) at the end of December 2003, registering a rise of Rs 4,236 crore (Rs 42.36 billion) over the position one year back.

The considerable rise in international assets was mainly due to increase in outstanding export bills drawn on non-residents by residents, Reserve Bank of India said in its June bulletin released in Mumbai on Monday.

The banks in India, including public, private, co-operative and foreign banking entities, continued to prefer foreign currency lending in the domestic market, it said.

"The share of foreign currency loans to residents in total international assets was at 38.6 per cent at the end of December 2003 (33.1 per cent in December 2002 and 36.4 per cent in September 2003), the central bank added.

RBI said the total international liabilities of these banks stood at Rs 2,10,283 crore ($46.10 billion), which increased by Rs 18,578 crore (Rs 185.78 billion) over the position one year ago but decreased by Rs 5,318 crore (Rs 53.18 billion) over the September quarter.

The decrease over September quarter was mainly due to redemption of Resurgent India Bonds while the increase over December 2002 may be attributed to the increase in foreign currency borrowings, foreign currency non-resident (bank) [FCNR-B] deposits and ADRs or GDRs, it said.