Banks scale South Korea exposure
Indian banks are drastically slashing their exposures to Korea even as Seoul struggles to keep its economy afloat. The State Bank of India, Bank of India and Bank of Baroda have already reduced their exposures to Korean banks substantially over the last six weeks in the face of a fast-depreciating won, the slide in the stock index and soaring yields of corporate bonds in South Korea.
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Centre set to speed up inland cargo movement
The Union government is deliberating upon a proposal to adopt regulatory measures to promote movement of fertiliser, coal, cement, crude oil and petroleum products, and steel through inland waterways. The proposed move will also help in the process of decongestion of road and rail traffic.
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