Washington, June 12 (IANS) American lawmakers from both parties and business leaders have congratulated Prime Minister Narendra Modi on becoming India’s longest-serving elected prime minister, citing the growing importance of India’s economy and the expanding US-India partnership.Messages of congratulations came from members of Congress, a US senator and executives from major American companies, reflecting broad support in Washington and corporate America for closer ties with India.Charles R…
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Washington, June 7 (IANS) Senior US banking regulators defended efforts to ease some post-crisis regulations and implement new rules for stablecoins during a contentious congressional hearing, while Democratic lawmakers warned that the changes could weaken safeguards designed to prevent future financial crises.The debate unfolded before the House Financial Services Committee this week as senior officials from the Federal Reserve, the Office of the Comptroller of the Currency (OCC), the Federal D…
Washington, March 26 (IANS) US lawmakers grappled with a difficult question facing modern finance — how to embrace new technology without exposing investors and markets to fresh risks.At a congressional hearing on Wednesday (local time), policymakers and industry leaders debated the rise of tokenised securities, a fast-evolving system that promises quicker trades and wider access, but also raises concerns about oversight, transparency and financial stability.House Committee on Financial Service…
Washington, Feb 11 (IANS) The US House of Representatives has passed a bill that would push to exclude China from major international financial institutions if Beijing poses an immediate threat to Taiwan.The legislation, introduced by Rep. Frank D. Lucas of Oklahoma, is known as the PROTECT Taiwan Act. It would make it US policy to seek the removal of Chinese representatives from key multilateral bodies if the president notifies Congress that China poses an immediate threat to Taiwan’s securit…