World News: 15:02 GMT Wednesday 7th August 2019. [Yahoo Business News Feed via SPi World News]
India's central bank outlined two measures on Wednesday aimed at easing liquidity pressures on crisis-hit shadow banks, but industry insiders say the moves, while positive, are unlikely to lead to any substantive improvements in the troubled sector. The Reserve Bank of India, which also cut its benchmark policy rate by 35 basis points on Wednesday, said it would allow banks to increase their exposure to a single non-banking finance company (NBFC). The move was aimed at boosting credit to cash-strapped NBFCs, or shadow banks.
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