competition wizard
competition wizard Published this articles Page No 302
US Federal Reserve has cut the benchmark lending rate for
the first time in more than a decade moving to stimulate the economy The target
for the federal funds rate is now 20 per cent It was 225 per cent earlier The
central bank vowed to "act as appropriate to sustain the expansion"
Jerome Powell the Fedaltered using the fresh start provisions of the Insolvency
and Bankruptcy Code (IBC) The govt has held discussions with the microfinance
industry to select the criteria for the proposed waiver for small distressed
borrowers from the economically weaker sections (EWS) There are various
thresholds for fresh start including that the gross annual income of the debtor
does not exceed 260000 competition wizard
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