16th BRICS summit to begin in Kazan, Russia Tuesday. PM Modi expected to hold bilateral talks with Russian President Putin & Iranian President Masoud Pezeshkian.
The new Swift has been tested to deliver 25.75 kmpl. And after driving both the manual and AMT variants, the trip computer showed I was getting over 22 kmpl.
The West blocked access to SWIFT for several Russian banks, including Sberbank and VTB, soon after Moscow invaded Ukraine in February last year to target Russian trade.
UPI expansion can allow better cooperation and improve business with other nations hence India can leverage the opportunity to influence the global world, writes Criti Mahajan.
SWIFT messaging system is backbone for financing global trade. US, European Commission, France, Germany, Italy, UK & Canada have excluded Russia’s central bank & some other banks from SWIFT.
While kicking it off would indeed cause severe pain to Russians and the Russian economy in the short term, it also could be too much of a shock to a Western-led payment system.
A report to the central government says Punjab National Bank had debated putting in place safeguards to prevent fraud in 2016, but put no systems in place.
IAF is firming up plans to revamp airlift capabilities with medium transport aircraft that will be assembled in India & serve as its main workhorse. Embraer is leading contender as of now.
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