China's Central Bank Adds 100 Bln Yuan to Relending Quota for Flood ...
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Standard Bank becomes the first bank on the continent authorised to clear Renminbi transactions
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When the water came, many people had little time. After the collapse of a dam in southern China, residents report vanished villages, missing relatives, and a catastrophe whose scale is said to be far greater than admitted by the authorities.
Senior Bharatiya Janata Party leader and former Rajya Sabha MP Shwet Malik visited Bamiyal and Narot Jaimal Singh in Pathankot, adjacent to the India-Pakistan border, to assess the potential flood threat. During the visit, he spoke with villagers, listened to their problems, and launched a scathing attack on the Punjab government. Several party leaders and workers were also present. Malik began his tour in Kohlian village in Narot Jaimal Singh. …
The People's Bank of China has added 100 billion yuan ($14.7 billion) in credit quotas for agriculture and small businesses to support flood control and disaster relief. Financial institutions will be incentivized to provide loans to businesses in disaster-stricken areas.
PBOC adds $15 billion to relending quota for flood control, disaster relief
China's central bank, the People's Bank of China (PBOC), said it has added 100 billion yuan (about $14.7 billion) to its agricultural and small-business relending quota to support flood control, disaster relief and post-disaster reconstruction.
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