The Reserve Bank of India (RBI) Governor Sanjay Malhotra has dismissed concerns that large capital market outflows could erode the central bank's dollar holdings. The reserves have declined from a record high of $728.49 billion in February due to central bank forex intervention to protect the rupee from pressures from the Middle East war and lower gold prices. The Reserve Bank's foreign exchange reserves are sufficient for at least 11 months, a "standard metric", according to the governor.