The Reserve Bank of India (RBI) on November 26, 2018 eased the norms for External Commercial Borrowings (ECBs) by reducing the mandatory hedging provision to 70 percent from the current 100 percent.
India plans to resume exporting raw sugar to China beginning 2019, almost after a decade. The move is a part of a larger goal of shifting focus to the overseas markets to shed surplus stocks that have muted prices and created financial distress in the Indian sugar mills.
The Union Ministry of Home Affairs on November 5, 2018 released Rs 113.36 crore to 6 Border States under the Border Area Development Programme (BADP) to improve the condition of people living in these isolated locations.
The Reserve Bank of India has initiated the process to set up a digital Public Credit Registry to capture all the details of borrowers, including wilful defaulters and also the pending legal suits in order to check financial delinquencies.
The Union Ministry of Finance on October 31, 2018 clarified that “the autonomy for the Central Bank, within the framework of the RBI Act, is an essential and accepted governance requirement”.