(a) whether the Permanent Mission of India in New York in its Peacekeeping Mission account held around Rs. 400 crore during 2003-2004 in bank without long term investment;
(b) if so, the facts thereof; and
(c) the estimated loss of earnings/interest therefrom?
MINISTER OF DEFENCE (SHRI PRANAB MUKHERJEE)
(a) & (b): A sum of Rs. 505 crore (approximately) was held during 2003-2004, in the Peacekeeping Mission Accounts, being operated by the Permanent Mission of India (PMI), New York, on behalf of Ministry of Defence.
(c) There was no loss of earnings/interest, since the balances were kept in these accounts to meet the regular requirement of money for disbursement of overseas allowances to the troops deployed/to be deployed in various United Nations Missions. These accounts earned interest on a monthly basis.