Set aside funds for likely defaults, RBI tells banks

Mumbai: A man walks past the RBI logo at RBI headquarters in Mumbai. (PTI Photo/Shashank Parade) Mumbai: Banks will have to start setting aside money for possible loan defaults in advance from April 2027, using mathematical models to predict losses instead of waiting for borrowers to actually miss payments, under RBI’s final rules issued on…

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India submits its new climate action pledges to the UN body, flags the conditions to fulfill its promise | India News

NEW DELHI: A month after the Union cabinet approved the country’s climate action goals, called Nationally Determined Contributions (NDCs), for 2031-35 period, India has formally submitted its pledges to the UN climate body underlining important conditions noting that the developing countries’ commitments “cannot be fulfilled” without adequate support in terms of “finance” and “technology transfer”.India…

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