-Business Standard Since wheat export was banned on May 13, the government has been cracking down on exporters who are waiting to have their orders cleared on the basis of invalid LCs Serving a warning to unscrupulous wheat exporters, the government on Monday said if after a probe it was found they had issued post-dated letters of credit (LCs), they would be proceeded against under the Foreign Trade Act. It can take help...
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Sri Lanka says it will default on its entire $51-billion external debt
-Scroll.in It has come to a point that making debt payments is impossible, the country’s central bank governor said. Crisis-hit Sri Lanka on Tuesday said it would default on its entire external debt worth $51 billion (over Rs 3.88 lakh crore) till it receives a bailout from the International Monetary Fund, AFP reported. A country’s external debt pertains to the money borrowed by it from foreign lenders through commercial banks, governments, or international...
More »Inflation is now the top concern: Reserve Bank of India
-The Telegraph Rising prices have now come to confront Central Banks globally, particularly after Russia’s invasion of Ukraine Mumbai: The RBI has brought inflation control to the forefront of its agenda. Pilloried for going soft on prices, the central bank sharply raised the inflation forecast for the year and warned it would withdraw its accommodative stance if inflation strayed too far away from the target. The RBI has been prioritising growth over inflation for...
More »Banks' NPAs kept rising in the past due to lack of transparency: PM Modi
-Livemint.com PM Modi said due to the lack of transparency in the country's banking sector earlier, various practices used to take place Audit Diwas: Prime Minister Narendra Modi on Tuesday said that banks' NPAs kept increasing in the past due lack of a lack of transparency in the banking sector. He said due to the lack of transparency in the country's banking sector earlier, various practices used to take place. “As a...
More »Govt. Squeezes Spending, Even Though Tax Collections Have Increased -Subodh Varma
-Newsclick.in Modi government has restrained spending of various ministries including education, social justice, environment and others. Continuing with its policy of cutting down spending, the central government has spent only 47% of the budgeted amount by the end of September 2021. That’s half of the financial year 2021-22 gone. This is a new low (see graph below), and bizarrely, it comes at a time when tax revenues have picked up. As can be...
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