India joins IMF's pool of lenders

A statement from the Reserve Bank of India said the IMF has selected India for the first time to become a member of its Financial Transaction Plan, which helps bail out countries facing currency crises or at risk of defaulting on foreign loans.

Source: Associated Press

India has joined the International Monetary Fund's pool of lenders, shedding its decades-old image as a borrower, the country's central bank said.

The IMF has selected India for the first time to become a member of its Financial T

To continue reading...