Question
In order to automate the complete lifecycle of external
commercial borrowings (ECBs) and trade credits, RBI is in the process of implementing which project. Read the following passage and answer the next 5 question (Q11-Q15) After a sharp decline in pandemic-hit FY21, overseas fundraising of Indian corporates have regained momentum. As per the latest RBI data, external commercial borrowings (ECBs) of India Inc in FY22 stood at $38.5 billion, witnessing a 10 per cent growth over FY21. External borrowings of India Inc touched a historic high of $52 billion in FY20 amid surplus liquidity and low interest rates in the global markets. However, the quantum of overseas borrowing declined by 32 per cent to $35 billion in FY21 as the pandemic-led uncertainties forced corporates to postpone their fundraising and expansion plans, besides deleveraging their balance sheets. However, pick-up in economic activity post unlocking and the continued availability of cheaper funds abroad induced corporates to tap overseas funding in the previous fiscal. “ECB issuances by Indian companies grew by 10 per cent y-o-y in FY22 to $38.5 billion. While in absolute terms, it is still lower than the peak observed in FY20 at $53 billion, sequential increase clearly shows improvement in corporate performance and credit growth. Source: BusinessLineSolution
In its endeavour to automate the complete lifecycle of external commercial borrowings (ECBs) and trade credits, the Department OF Financial Markets and Foreign Exchange is in the process of implementing the SPECTRA project. SPECTRA would encompass the lifecycle of ECB/trade credits, from receipt of application to approval stage either at the level of Authorised Dealer (AD) Bank or the Reserve Bank, as well as reporting of transactions. It will incorporate all policy provisions related to ECBs and trade credits. The development of the software has since been completed and the user acceptance testing (UAT) is near completion. SPECTRA -Software Platform for External Commercial Borrowings and Trade Credits Reporting and Approval.
India and _________ will jointly observe Maitri Divas or friendship day on 6th December.
Which of the following activities is NOT part of the Union health ministry's 'Ayushman Bhav' program?
By what percentage did India's life expectancy decrease between 2019 and 2020 due to Covid-19?
Baghmara Pitcher Plant Sanctuary is located in which of the following states?
What was the target capacity of rural roads to be constructed under Phase IV of the Pradhan Mantri Gram Sadak Yojana (PMGSY)?
Union Minister for Commerce, Industry, Food and Public Distribution Piyush Goyal virtually launched India's first Food Museum in ___________.
Who launched the web portal for faster bank settlements of interest subvention claims under Agriculture Infrastructure?
What is India’s direct tax collection target for FY26 as per the latest data?
In the RBI’s survey, what percentage of the total responding entities were responsible for India’s software services exports?
The International Monetary Fund (IMF) recently revised India's GDP growth forecast for fiscal year 2024/25 to 6.8%, up from an earlier projection of X %.?
