The Reserve Bank of India vide circular dated September 28, 2021 has allowed use of any Alternative reference rate in place of LIBOR for interest payable in respect of export / import transactions. In view of the impending cessation of LIBOR as a benchmark rate, it has been decided to permit AD banks to use any other widely accepted/Alternative reference rate in the currency concerned for such transactions.
Karnataka Revises Minimum Wages & VDA for Shops, 2025-26
The Karnataka Government updates minimum wages and VDA for shops and commercial establishments, effective from April 1, 2025, to March 31, 2026.