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The Federal Reserve on Wednesday raised interest rates by a quarter of a percentage point, but indicated it was on the verge of pausing further increases in borrowing costs amid recent turmoil in financial markets spurred by the collapse of two US banks.
Finance minister Nirmala Sitharaman has called a special meeting of state-run lenders later this week to seek their views on heightened global concerns over the banking system’s vulnerability due to monetary tightening.
The consumer affairs ministry is working on tightening ecommerce rules to make online retail platforms liable for fraud committed by sellers and attaching “fallback liability” to their role as intermediaries, said a senior official.
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