Rs. 50 B Capital Will Reflect Strength: Cb Chief
Central Bank Governor Ajith Nivard Cabraal on Friday said the expansion of the monetary authority’s capital to Rs. 50 billion will better reflect strength and stability.
“The current share capital of the Central Bank is only Rs. 15 million, which was capital introduced in 1950 during a structural shift in monetary policy. We don’t have capital that has been contributed to show overall strength. This will now be raised to Rs. 50 billion, which shows an extent of stability and strength to external or foreign...
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