India’s central bank tightened cash deposit rules on Monday, just days before the demonetisation deadline, saying individuals can bank over 5,000 rupees ($73.83) of old notes only once until Dec. 30.However, the central bank in a circular said that any deposit above 5,000 rupees would be subject to questioning by two bank officials and the explanation should be kept on-record in case of scrutiny at a later stage.
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Singapore stands ready to partner China to jointly build the Belt and Road Initiative, Singapore’s Minister for National Development and Second Minister for Finance Lawrence Wong said on Tuesday. Source: China Daily
Cambodian authorities have signed an $880 million contract with Chinese companies, allowing the latter to build a new international airport in Siem Reap next year. Source: People’s Daily
The International Monetary Fund increased its estimate for China’s average annual growth rate through 2020, while warning that it would come at the cost of rising debt that increases medium-term risks to growth. China’s economy will expand at an average pace of 6.4% annually from 2017 through 2020. Source: China Economic Review