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LIBOR is likely to be fully withdrawn by the end of the year 2021. RBI has directed the banks to go for alternative reference rates. The Financial Conduct Authority (FCA), UK has announced on March 05, 2021 that LIBOR will either cease to be provided by any administrator or no longer be a representative rate: · Immediately after December 31, 2021, in the case of all Pound sterling, Euro, Swiss franc and Japanese yen settings, and the 1-week and 2-month US dollar settings; and · Immediately after June 30, 2023, in the case of the remaining US dollar settings Therefore, banks and financial institutions and their customers should stop using LIBOR as a benchmark and instead use any widely accepted ARR, as soon as practicable and in any case by December 31, 2021.
______ and Genpact have launched Be.Seen — a program to help scale businesses owned by minority and under-represented groups in India with an aim to...
Which organizations participated in the Joint Flood Relief 'Exercise Jal Rahat' conducted by the Gajraj Corps of the Indian Army?
What growth rate did India's defence production achieve in FY24?
Kathmandu has been identified as the most polluted city in the world. What percentage has air pollution reduced the average life expectancy in Kathmandu?
Which ministry provides a separate administrative, legal and policy framework for strengthening the cooperative movement in the country?
Dr Manik shah has taken oath as the new Chief Minister of which of the following states?
What percentage of an employee's basic salary is contributed to the EPF by the employee?
Which city in India has become the first to adopt the localisation of the United Nations-mandated sustainable development goals (SDG)?
What criteria must urban co-operative banks meet to be considered for inclusion in the second schedule of the RBI Act, 1934?
Who has been confirmed as the President of the World Bank from June 2023?