US
Aims to meet financial needs of underserved population
It is attributed to surge in policy rate, investment in govt debt
Govt’s borrowing from banks has increased significantly in recent years
Previously, deposits were sent to either Signature Bank or Silvergate Capital Corp, both were crypto-friendly banks
NPLs have increased by almost 3% to Rs938.67 billion in the quarter ended December 31, 2022
Decision to impose taxes on banks involved in currency manipulation still pending
Banking sector concerns drive sharp moves in financial stocks after collapse of US lenders
Govt raised Rs1.14tr through sale of T-bills to meet its expenditures
Repurchase highlights efforts to shore up sentiment
Agreement comes after jitters stemmed from Western banks