INDIA
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<i> Times Staff and Wire Reports</i>
World Bank Approves Large Loan: In one of its biggest loans ever, the World Bank offered India $700 million to restructure six state-owned banks and develop the foreign currency exchange market, the government said. The loan was hailed as a vote of confidence for Prime Minister P.V. Narasimha Rao, who is facing growing criticism within his Congress Party and from the opposition.
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