India's holding of the US government debt securities is still considerably higher than the year-ago level of $40.1 billion in October 2011

India's US government debt holding 

dips to $58.9 billion, China's rises

India's holding of US government debtsecurities has declined for the second consecutive month, even as many other countries including China, Japan, Brazil and Russia hiked their exposure toAmerican treasury bonds. 

As per the latest data released by the US Department of Treasury, India's holding of treasury securities stood at $58.9 billion (over Rs 3,20,000 crore) at the end of October 2012 - marking the second straight month of decline after an uptrend for seven continuous months. 

However, the holdings of countries like China, Japan, Brazil, Switzerland, Russia, France and Canada rose during October. 
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Read more: economictimes.indiatimes.com