Buyer’s Credit?

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Buyer’s Credit refers to loans for payment of imports into India arranged on behalf of the importer through an overseas bank. The offshore branch credits the nostro of the bank in India and the Indian bank uses the funds and makes the payment to the exporter’ bank as an import bill payment on due date. The importer reflects the buyers credit as a loan on the balance sheet.

Competitive exams: 
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India

10,000 foreign-educated doctors jobless after failing Medical Council of India test

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CHENNAI: Close to 10,000 Indians across the country who have completed their undergraduate medical education abroad are unemployed or under-employed. This is because they have not been able to clear the screening test mandated by the Medical Council of India (MCI). Now, the graduates plan to approach Prime Minister Manmohan Singh and Parliament demanding that the test be scrapped.

Competitive exams: 
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Education for the everyday life

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Mamatha has a determined look on her face as she pays close attention to what her teacher is saying. She is only 11 years old but dreams of becoming a collector one day. Giving wings to her dreams —and to that of 100 other children like her — is The Museum School, a project by Bal Utsav, an initiative of Child Empowerment Foundation India (CEFI), a not-for-profit organisation.

Country: 
India

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