India's current account logged a surplus in the January-March quarter largely due to higher services, the central bank said on Monday.

The current account surplus stood at $5.7 billion, or 0.6% of the GDP, in the fourth quarter of the fiscal year 2023-24, compared with a deficit of $8.7 billion or 1% of the GDP in the preceding quarter, the Reserve Bank of India said.

The deficit stood at $1.3 billion or 0.2% of GDP in the same quarter a year ago.

(Reporting by Siddhi Nayak; Editing by Sohini Goswami)