The currency swap arrangement put in place due to the ongoing Covid crisis will remain available till November 2022, said the Indian mission in a press release.
In his book, Quest for Restoring Financial Stability in India, the ex RBI deputy governor lists the ongoing challenges to RBI’s independence and how markets can ensure it.
The rift centered around February 2018 circular issued by RBI, which forced banks to immediately classify borrowers as defaulters when they delayed repayments.
Kanoria said the special liquidity window announced by the Modi government for NBFCs has not helped Srei, adding that banks are still reluctant to lend.
The Rs 8 lakh crore with banks exceeds the level seen after demonetisation in 2016 and is expected to be the new normal for the next few months at least.
India’s rate-setting panel is due to meet in the first week of August as the economy heads toward its first annual contraction in more than four decades.
Value of UPI transactions reached all-time high June as people feared handling banknotes amid the pandemic. Electronic fund transfers have also rebounded.
The pandemic is the biggest test of the economic and financial system's resilience and robustness, Das said, adding that RBI has asked banks to conduct Covid stress tests.
From New World Cuban mercenaries to South East Asian combatants, various linguistic groups are represented in the battlefields that divide Russia from Ukraine.
Navy team has already visited Ambala air station where IAF has kept one squadron of Rafales to understand commonalities of maintenance that can be pursued.
Changed reality for Modi govt in its 3rd innings is by no means rise of a new phenomenon. It's a return to old normal where even majorities had to routinely wrestle with storied million mutinies.
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