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<title>Latest News Online - Express Indian</title><description>Latest news from india covering india breaking news, latest cricket news, business, world, sports, entertainment, finance, cricket score, breaking &amp; latest news from india</description><link>http://64.15.136.122/myfeed/blog/default/worldnews_INDIA - headline</link><language>en</language><item>
<title>European banks’ exposure to India may add up to 15&#x25; of GDP</title><description><![CDATA[Policy-makers not overly worried of a fallout of Euro crisis, global banks concerned]]></description><content:encoded><![CDATA[Policy-makers in New Delhi and Mumbai are not convinced, but global banks and hedge funds with significant interests in India are deeply concerned that the European sovereign debt crises will adversely impact the country’s financial system. They have sounded out mandarins in North Block and Mint Street that European banks’ exposure to India could be as high as 14-15 per cent of the gross domestic product (GDP). In absolute terms, this is approximately $150 billion. A global banker, who did not wish to be quoted, told The Indian Express that the de-leveraging risks of European banks for India were being underestimated by the Finance Ministry and the Planning Commission. European banks have actively participated in funding India Inc through external commercial borrowings (ECBs) and trade credit during the last two years. “Of the approximately $120 billion exposure, trade credit alone accounts for about $36 billion,” the banker said. Post-2008 global financial crisis, when credit turned cheap across the world on the back of coordinated stimulus by governments, India Inc borrowed almost $46 billion from European banks alone in just two years. When contacted, senior government officials said the situation was not as scary as was being feared by some. “Over the next 12 months, it is true payments to the tune of $120 billion are due. Take the worst case scenario that there will be no foreign inflows over the next 12 months. So, our forex reserves will dip from $300 billion to $180 billion. Even if we assume that we need $120 billion to cover a year’s import, we have 50 per cent more reserves,” said a senior Planning Commission official.]]></content:encoded><link>http://www.indianexpress.com/news/european-banks-exposure-to-india-may-add-up-to-15-of-gdp/894639/</link><guid isPermaLink="false">4f10f026-3ff5-fc13-f66d-f721f44f190d</guid><author></author><pubDate>Sun, 01 Jan 2012 21:28:32 GMT</pubDate><timestamp>t1325453312000</timestamp><enclosure length="0" type="image/jpeg" url="http://static.indianexpress.com/m-images/Mon Jan 02 2012, 02:48 hrs/M_Id_258462_FP.jpg"/><enclosure length="1" type="CITY_WORLD" url="New Delhi"/><enclosure length="1" type="CITY_WORLD" url="Mumbai"/><source url="http://www.indianexpress.com/rss/33/front-page.xml">Indian Express</source></item>
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<title>Afghan girl tortured after refusing prostitution</title><description><![CDATA[Sahar Gul was in critical condition when she was rescued from a house in northern Baghlan province last week, after her neighbours reported hearing Gul crying and moaning in pain.]]></description><content:encoded><![CDATA[Sahar Gul was in critical condition when she was rescued from a house in northern Baghlan province last week, after her neighbours reported hearing Gul crying and moaning in pain.]]></content:encoded><link>http://jcmsstg.indiatimes.com/world/south-asia/15-year-old-Afghan-girl-tortured-after-refusing-prostitution/articleshow/11328070.cms</link><guid>http://jcmsstg.indiatimes.com/world/south-asia/15-year-old-Afghan-girl-tortured-after-refusing-prostitution/articleshow/11328070.cms</guid><author></author><pubDate>Sun, 01 Jan 2012 15:29:02 GMT</pubDate><timestamp>t1325431742000</timestamp><source url="http://timesofindia.indiatimes.com/rssfeedsdefault.cms">The Times of India</source></item>
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