Question
In order to automate the complete lifecycle of external commercial borrowings (ECBs) and trade credits, RBI is in the process of implementing which project.
Read the following passage and answer the next 5 question (Q11-Q15) After a sharp decline in pandemic-hit FY21, overseas fundraising of Indian corporates have regained momentum. As per the latest RBI data, external commercial borrowings (ECBs) of India Inc in FY22 stood at $38.5 billion, witnessing a 10 per cent growth over FY21. External borrowings of India Inc touched a historic high of $52 billion in FY20 amid surplus liquidity and low interest rates in the global markets. However, the quantum of overseas borrowing declined by 32 per cent to $35 billion in FY21 as the pandemic-led uncertainties forced corporates to postpone their fundraising and expansion plans, besides deleveraging their balance sheets. However, pick-up in economic activity post unlocking and the continued availability of cheaper funds abroad induced corporates to tap overseas funding in the previous fiscal. “ECB issuances by Indian companies grew by 10 per cent y-o-y in FY22 to $38.5 billion. While in absolute terms, it is still lower than the peak observed in FY20 at $53 billion, sequential increase clearly shows improvement in corporate performance and credit growth. Source: BusinessLineSolution
In its endeavour to automate the complete lifecycle of external commercial borrowings (ECBs) and trade credits, the Department OF Financial Markets and Foreign Exchange is in the process of implementing the SPECTRA project. SPECTRA would encompass the lifecycle of ECB/trade credits, from receipt of application to approval stage either at the level of Authorised Dealer (AD) Bank or the Reserve Bank, as well as reporting of transactions. It will incorporate all policy provisions related to ECBs and trade credits. The development of the software has since been completed and the user acceptance testing (UAT) is near completion. SPECTRA -Software Platform for External Commercial Borrowings and Trade Credits Reporting and Approval.
More Alternate Sources of Finance Questions
- Why is it important to have recordkeeping and document retention policies in place?
- The subscribers of the erstwhile Swavalamban pension scheme who are in the age group of 18-40 years were given option to migrate to ___________
- Under which of the following types of barriers to the effective communication can anger, frustration, pride etc. be categorized?
- Which among the following can be utilized for Buy Back of shares of an organisation?
- What is the limitation period for filing a suit for breach of trust under the Indian Trusts Act, 1882? Â
- The cost incurred for an additional product is known as ________
- The Central Government has notified the Unified Pension Scheme (UPS) as an option under the National Pension System (NPS) for Central Government employees....
- Mr. A is addressing to a the costing technique of his product to Mr. C and says “Here the cost of completing each stage of work is ascertained, like cost o...
- A researcher collects multiple random samples from a population and calculates the sample means. He notices that the means vary across different samples. W...
- Which of the following appears under the heading 'Reserves & Surplus' in the balance sheet?
