Question
Which reference rate is likely to get scrapped
completely by the end of year 2021?Solution
LIBOR is likely to be fully withdrawn by the end of the year 2021. RBI has directed the banks to go for alternative reference rates. The Financial Conduct Authority (FCA), UK has announced on March 05, 2021 that LIBOR will either cease to be provided by any administrator or no longer be a representative rate: ·        Immediately after December 31, 2021, in the case of all Pound sterling, Euro, Swiss franc and Japanese yen settings, and the 1-week and 2-month US dollar settings; and ·        Immediately after June 30, 2023, in the case of the remaining US dollar settings  Therefore, banks and financial institutions and their customers should stop using LIBOR as a benchmark and instead use any widely accepted ARR, as soon as practicable and in any case by December 31, 2021.
The minimum period permissible between two sessions of Parliaments is
What is the maximum strength of the Public Accounts Committee of the Lok Sabha?
Which Constitutional Amendment Act revised Article 312 (1) of the Indian Constitution to empower Parliament to create All-India Services?
Which part of the constitution is taken from the Japan?
Which writ is issued by the Court to direct a public authority to perform the legal duties which it has not or refused to perform?
Which Article of the Indian Constitution states that no person shall be deprived of their property except by authority of law?Â
Which article grants special provisions to Nagaland?
Which constitutional amendment deals with urban local governance, similar to the 73rd Amendment for rural areas?
Who is known as the 'Iron Man of India'?
Which Article in the Constitution of India deals with the organization of village panchayats?
