Lenders aren’t committing to U.S. dollar purchases in the forwards market since this guidance last week, the people said, asking not to be identified discussing private deliberations. U.K.-based Cairn Energy can push authorities to impound Indian assets if the South Asian nation declines to honor an arbitration ruling in a $1.2 billion tax dispute, according to a letter the company sent to the Indian High Commission in the U.K. earlier this year.source https://economictimes.indiatimes.com/industry/banking/finance/banking/india-asks-state-banks-to-protect-dollar-assets-on-cairn-concern/articleshow/82392950.cms
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