India withdraws Rs 2,000 notes from circulation

India withdraws Rs 2,000 notes from circulation

MUMBAI, May 19 (Reuters) – India will start withdrawing its high-denomination currency notes from circulation, the central bank said on Friday. The withdrawal of the 2,000 rupee ($24.5) notes – which top finance ministry official TV Somanathan said would not disrupt “normal life or the economy” – comes at the end of elections in four…

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Biden and McCarthy are about to meet the debt ceiling

Biden and McCarthy are about to meet the debt ceiling

WASHINGTON, May 16 (Reuters) – Democratic President Joe Biden and top Republican Rep. Kevin McCarthy sat down on Tuesday to make progress on a deal to raise the U.S. government’s $31.4 trillion debt ceiling and stave off economic disaster. They have some time to come to an agreement. The U.S. Treasury Department on Monday warned…

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