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Indian government

Safe Deposits

The RBI, the extended arm of the government, which licenses the banks, has full responsibility to ensure full protection to bank deposits. The government therefore needs to regulate fully and protect all deposits in all banks because the deposits belong to the depositing public no matter whether the bank is privately owned, governmentowned, or a cooperative

Big deal

The most significant outcome of Prime Minister Narendra Modi’s landmark first state visit to the United States of America (USA) is the inking of a Memorandum of Understanding (MoU) between General Electric (GE) Aerospace and the state-owned Hindustan Aeronautics Limited (HAL) to produce fighter jet engines for the Indian Air Force (IAF).