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RBI weighs linking some new bank loans to policy rate

Monday, August 19, 2019, 4:42 PM

The Reserve Bank of India is looking to get banks to link some new loans to its key policy rate or other external benchmarks, Governor Shaktikanta Das said on Monday, as he pushes them to cut rates faster to stimulate a flagging economy. The State Bank of India, the largest lender by assets, has cut its benchmark lending rate by 30 bps.
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To repay loans, Pune restaurateur turns chain snatcher; arrested

Thursday, August 15, 2019, 1:02 PM

A 53-year-old restaurateur took to chain snatching after his business went bust. Donning a black jacket, he would go around in the night looking for gullible victims and even managed to grab four chains, before running out of luck on August-9. The suspect, a resident of Kothrud, landed in police net after a woman (33) approached the Alankar police and registered a chain-snatching complaint.
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IMF board approves $6 billion loan package for Pakistan

Thursday, July 4, 2019, 11:03 AM

The IMF approved a USD 6 billion loan over a period of three years for cash-strapped Pakistan, aimed at returning sustainable growth to the country's fragile economy and improve the standards of living. Pakistan's finance ministry approached the International Monetary Fund (IMF) in August 2018 for a bailout package when the Imran Khan government took over.

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