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India signs $75 bn currency swap agreement with Japan

The Government of India (GoI) has recently signed $75 bn bilateral currency swap agreement with Japan to bring greater stability in foreign exchange and capital markets in the country. The currency swap pact would enable the two major Asian economies to swap their local currencies – either Indian rupee or the Japanese yen against the ..

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India growth forecast slashed: CRISIL

Rating agency CRISIL has slashed India’s growth forecast to 5.5%. It is the second cut for fiscal 2013 estimate. Earlier, the agency had cut GDP growth to 6.5%. Deficient rainfall and worsening Eurozone situation are the main causes behind the decline. As per CRISIL, the sluggish growth is expected to put pressure on government finances. ..

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EU offers Spain bank financial aid and more time to cut deficit

European Union has offered ailing Spain more time and 30 billion euro to save the country’s banks and protect Europe from more debt crises. EU ministers promised to provide the funds with 100 billion euro ($123 billion) potentially available in all. EU finance ministers have also agreed to extend a deadline for Spain to reduce ..

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IMF: India’s growth Forecast: 7.8%

The International Monetary Fund (IMF) and trimmed its forecasts of economic growth for India, China and other Asian developing economies due partly to slower growth in the rest of the world. The IMF forecast India’s economy to grow 7.8% in 2011 and 7.5% in 2012, down from its June forecasts of 8.2% and 7.8%, respectively. ..

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