15th May Current Affairs

1. BY JULY, THE RBI ANTICIPATES BANKS TO DISCONTINUE USING LIBOR ALTOGETHER 1. BY JULY, THE RBI ANTICIPATES BANKS TO DISCONTINUE USING LIBOR ALTOGETHER By July 1, financial institutions and banks must stop using the scandal-plagued London Interbank Offered Rate (LIBOR) and Mumbai Interbank Forward Outright Rate (MIFOR) and switch to an alternative reference rate, primarily the Secured Overnight Financing Rate (SOFR). 15th May

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