Finance

India’s Assurances to IMF backing Sri Lanka

January 19, 2023

India sends financing assurances to IMF to back Sri Lanka’s debt restructuring program. Sri Lanka’s three largest bilateral lenders are China, Japan, and India. India’s backing is a critical step for Sri Lanka to receive a $2.9 billion package from ..

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Supreme Court Verdict on Demonetisation Case

January 2, 2023

The Supreme Court of India has upheld the 2016 decision of the Narendra Modi government to demonetize currency notes of INR 500 and INR 1,000 denominations. The decision, which was taken by a 4:1 majority of the Constitution Bench, stated ..

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25th Meeting of Financial Stability and Development Council

February 23, 2022

In the city of Mumbai, the Financial Stability and Development Council’s (FSDC) 25th meeting was held. This meeting was held under the chair of Finance Minister Nirmala Sitharaman. Overview: The council discussed the different mandates of the FSDC as well ..

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RBI launches National strategy for Financial Education for 2020-25

August 21, 2020

The Reserve Bank of India has come up with the Second National Strategy for Financial Education (NSFE) for the time period of 2020-25. The document of the apex bank recommended a ‘5 C’ approach with the objective of the circulation ..

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ADB approves 1.5 billion USD for India to fight COVID-19

April 28, 2020

On April 28, 2020, the Asian Development Bank approved 1.5 billion USD loan to support the Indian Government in its actions against the spread of COVID-19 crisis. The fund is to be used in disease containments, social protection and disease ..

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India has the third-highest trade-related illicit financial flow globally

March 4, 2020

US-based think tank Global Financial Integrity (GFI) recently released a report titled “Trade-related Illicit Financial Flows in 135 Developing Countries: 2008-2017”. As per the report, five countries with the largest gaps were China ($457.7 billion), followed by Mexico, India, Russia and Poland. ..