(Bloomberg Businessweek) — It sounds like the plot of a made-for-Netflix crime drama. A Brooklyn businessman stuffs $8,000 in cash in a suitcase and calls an Uber to send it to accomplices. Hundreds of thousands of dollars crisscross the globe via MoneyGram, PayPal, and foreign bank accounts in a plot to swindle more than $100 […]
Over A Third Of India’s Electronic Component Imports In 2019-20 From China
The country imported electronic components worth Rs 1.15 lakh crore in 2019-20, out of which, 37% came from China, Minister of State for Communications and Electronics and IT Sanjay Dhotre said on Thursday. The data was shared by the minister on the impact on the electronics sector due to shutting down of factories in China. […]
Further Fiscal Stimulus Warranted In India, Says IMF
The IMF on Thursday said that there is a need for another stimulus, especially expenditures on health, food and income support for vulnerable households, and support for businesses in view of the Covid-19 pandemic. Gerry Rice, Director of Communications Department at the International Monetary Fund, told reporters at a virtual news conference that the Washington-based […]
RBI’s Restructuring Framework Needs Deft Finishing Touches To Make It Work
The Reserve Bank of India’s resolution framework for pandemic-related stress provided timely guidance on the possible course of action after Aug. 31, 2020, when the moratorium on loans comes to an end. It may be expected that a majority of borrowers in the moratorium will require some form of restructuring. On a systemwide basis, this […]
BQuick On Aug. 20: Top 10 Stories In Under 10 Minutes
This is a roundup of the day’s top stories in brief. . Read more on Notifications by BloombergQuint.