India unveils steps for bad loan-laden banks to boost credit

Mumbai: The Reserve Bank of India (RBI) unveiled steps to encourage banks to lend more to small businesses and home buyers in a bid to spur credit growth in the struggling economy. Banks will be exempt from setting aside the mandatory cash reserve ratio of 4 per cent of fresh loans for automobiles, residential housing […]

GCC’s financial wealth could be depleted by 2034: IMF

Dubai: The GCC countries that account for a fifth of the world’s oil production need to urgently adapt their fiscal policies to the reality of lower oil prices in the longer term, the International Monetary Fund (IMF) said in a Staff Report on Thursday. The report, ‘The Future of Oil and Fiscal Sustainability in the […]