Ban on LoUs hit exports, MSMEs: Parliamentary panel

Terming the banning of Letter of Understanding (LoU)/Letter of Comfort (LoC) post Punjab National Bank (PNB) scam a “knee-jerk reaction by the RBI”, a Parliamentary panel recently said the adversely impacted exports and the  MSME sector. After the ban, e Export credit too declined 24.4 percent in the 2017-18 financial year and was down 29.6
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Continuing with the ban on import of milk and its products, including chocolates, from China, the government has further extended the ban for six more months till December 23. Though India does not import milk and milk products from China, the ban has been imposed as a preventive measure. “Prohibition on import of milk, milk
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British Columbia on Thursday edged back from its pledge to block increased shipments of crude oil through the Pacific Coast province, saying it is now pursuing legal advice on whether it has jurisdiction to impose the temporary ban. The province sparked a trade war with neighboring Alberta last month, when it announced numerous new environmental
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