Pakistan has received the second and final tranche of USD 1 billion from Saudi Arabia, completing a USD 3 billion aid package aimed at boosting its foreign reserves, the state bank said.
Sir Osborne Smith was the first governor of the Reserve Bank, serving from April 1, 1935, to June 30, 1937.
Citing details of the contract from the American Federal Procurement Data System, the BBC report claimed that Pakistan signed two contracts with American companies named "Global Military" and "Northrop Grumman" for the sale of 155mm shells.
Pakistan's current account deficit (CAD) increased to a 4-year high of $17.4 billion in the fiscal year of 2021-22, indicating more troubles for the ailing economy of the cash-strapped country. The State Bank of Pakistan (SBP) on Wednesday reported that the country recorded a CAD of $17.406 billion in FY22 compared to a gap of just $2.82 billion in FY21. According to Dawn newspaper, the massive CAD speaks a lot about the severe problem of the balance of payments.
The agreement is subject to approval by the IMF management and consideration by its executive board, which is expected in early April.
The RBI has shelved its plan for polymer notes more than a decade after it invited interest from global manufacturers for one billion pieces of Rs 10 denomination polymer banknotes, reveals Tamal Bandyopadhyay.
The Sindh province is the worst-hit with 172 cases, followed by 15 in Khyber Pakhtunkhwa, 10 in Balochistan, 8 in Punjab, 5 in Gilgit-Baltistan and 2 in Islamabad, officials said.
Reserve Bank of India and State Bank of Pakistan are working on modalities for opening branches of each other's banks in both the countries.
On the other hand, quasi-state owned National Bank of Pakistan and privately-owned United Bank Ltd will be running full-banking operations across the border, once licensed by India.
Pakistan is not raising revenues to the optimum extent. The tax to the GDP ratio is below 10 per cent.
Law-enforcement agencies have registered 2,337 cases for hate speeches and material and arrested 2,195 people.
The Indian side, led by former foreign ministry secretary Vivek Katju and included well-known educationist J S Rajput and other experts, met ex-Pakistan foreign secretary Inamul Haque.
The APG released its much-awaited 228-page 'Mutual Evaluation Report' on Saturday, 10 days ahead of the key Financial Action Task Force's plenary meeting which will give its decision on Pakistan's 'grey list' status.
The rupee, which has been in virtual free fall over the past few days, recovered slightly to close at Rs 83.20 to the dollar in the inter-bank market after State Bank of Pakistan intervened by selling about USD 40 million in the foreign exchange market. Experts have attributed the fall of the rupee's value to speculation as well as a high demand for dollars from importers and general consumers.
The proscribed organisations will be examined under heightened security checks at all layers of legal, administrative, investigative and financial regimes, the Dawn newspaper reported.
The Reserve Bank of India has recommended the names of State Bank of India and Bank of India to its Pakistani counterpart for allowing them to open of branches in that country.
The banking relationship is to be re-instated for the first time since 1965.
A Pakistani government notification issued August 7 said the outfit had links to the Al Qaeda.
Authorities in Pakistan have frozen bank accounts with more than Rs 400 million of over 5,100 terror suspects, including JeM chief Masood Azhar who is under "protective custody" after the terror attack on the Pathankot air base, officials said.
Normalisation of Indo-Pak ties would not only augur well for bilateral trade but will also lead to an increase in regional trade by 15 per cent, the Governor of State Bank of Pakistan has said.\n\n\n\n
Currently placed on the FATF'S 'grey list', Pakistan has been scrambling in recent months to avoid being added to a list of countries deemed non-compliant with anti-money laundering and terrorist financing regulations by the FATF.
India is adopting a 'wait and watch' approach after the installation of the new government in Pakistan, the minister of state for external affairs told reporters in New Delhi.
'The accusation that Pakistan risks losing sovereignty to China is emotive and has the potential to spread.' 'China will, however, remain intent on achieving its strategic ambitions of acquiring Gwadar port and securing a large chunk of Pakistan occupied Kashmir,' says former RA&W officer Jayadeva Ranade.
The Panama verdict will decide how Pakistan handles its leadership problems.
The Opposition in the Pakistan Punjab assembly on Tuesday staged a walkout to protest against Saeed's detention.
Equity markets in Pakistan and Bangladesh are tiny compared to the market capitalisation of the Indian equity market.
India is unlikely to take any bold move to improve its ties with Pakistan before the next year's general election, a top American intelligence official said on Wednesday.
India and Pakistan are working on allowing three banks to set up branches on each other's soil to help improve trade relations.
Former Pakistan speedster Shoaib Akhtar, once a nemesis of many a top Indian batsman, is now ready to offer advice to his arch-rivals saying that Mohammad Shami, Umesh Yadav and Varun Aaron will be key to India's 2015 World Cup defence.
Since the 1984 national elections, no party has won a clear majority in the lower house of Parliament, a US intelligence report has observed. Vicky Nanjappa reports.
With a sole mandate of inflation targeting, RBI wears many hats.
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