SEBI probe concluded that purported loans and fund transfers were paid back in full and did not amount to deceptive market practices or unreported related party transactions.
A common thread runs through the memories of soldiers of the 1965 war—ingenuity, courage and camaraderie that withstood an apparently technologically superior foe.
Many really smart people now share the position that playing cricket with Pakistan is politically, strategically and morally wrong. It is just a poor appreciation of competitive sport.
Seigniorage is the profit a government earns from issuing fiat currency, a sort of interest free loan holders of rupee or dollar notes are extending to the issuer. The amounts involved in Nepal and Bhutan are small. However, it is a measure of Indian influence in the region that people use INR. Immediately after the two month window for exchange closed in India, the RBI should have discussed this issue with the central banks in Nepal and Bhutan, arranged an immediate swap, taking care only to weed out counterfeit currency. Even now, not too late to do the right thing.
Seigniorage is the profit a government earns from issuing fiat currency, a sort of interest free loan holders of rupee or dollar notes are extending to the issuer. The amounts involved in Nepal and Bhutan are small. However, it is a measure of Indian influence in the region that people use INR. Immediately after the two month window for exchange closed in India, the RBI should have discussed this issue with the central banks in Nepal and Bhutan, arranged an immediate swap, taking care only to weed out counterfeit currency. Even now, not too late to do the right thing.