BIMSTEC embarrassment for India

Nepal, Thailand send only observers to grouping’s first joint military exercise being held in Pune- India is facing an embarrassing situation at the first ever military exercise of the regional grouping BIMSTEC (Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation) with Nepal and Thailand backing out from sending full contingents.

Small loans could turn bad: Rajan

Former RBI Governor Raghuram Rajan has cautioned that the next crisis in India’s banking sector could come from loans given to the unorganised micro and small businesses, called MUDRA loans, and credit extended through the Kisan credit card.

SC orders status quo on RBI’s February 12 circular

The Supreme Court on Tuesday ordered status quo on the implementation of a February 12 circular of the Reserve Bank of India which mandates insolvency proceedings for a debt servicing default beyond 180 days.

RBI intervenes as rupee breaches 72.5 to dollar

A sustained fall of the rupee ”” it dropped another 72 paise Monday to a record low of 72.45 against the US dollar, as the current account deficit widened to five- year high in the first quarter of the current financial year, to $15.8 billion or 2.4%, of the GDP.

CPEC to consider Pak. social sector priorities

China and Pakistan are looking afresh at projects under the China-Pakistan Economic Corridor (CPEC), in tune with Prime Minister Imran Khan’s focus on development of social infrastructure.