The Reserve Bank of India (RBI) on Wednesday issued guidelines for the implementation of the circular on the opening of current accounts by banks.
The country's current account surplus rose to USD 19.8 billion or 3.9 per cent of GDP in the June quarter as merchandise imports declined amid the COVID-19 pandemic, the Reserve Bank said on Wednesday.
As per the latest RBI guidelines, a bank opening a dedicated current account of any company with Rs 50 crore or more in debt must have at least 10 per cent loan exposure in the concerned business entity.
Mumbai: India's current account deficit narrowed sharply to $1.3 billion, or just 0.2 percent of GDP, on the back of a fall in trade deficit in the fourth quarter ended March, as compared to $8.2
New Delhi: India's current account which has been consistently in deficit over the last 10 years is likely to swing into a minor surplus of 0.3 per cent of GDP in 2015, says a Morgan
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