New Delhi will announce a list of trusted sources and products for Indian telecoms providers – and possibly a blacklist – as part of the new directive, which will likely be launched next year.
“This is a very important decision with respect to national security,” Prasad said.
Telecoms providers will have to use new devices which have been approved as trusted products, he said, though he added that the policy does not require wireless carriers to replace gear already being used.
Here’s how the pandemic bonds worked.
The World Bank would sell $320 million of debt to investors. In the event of a pandemic, that debt would be written off and the principal would accrue to the bank to be distributed to needy countries. Premiums were juicy – the safest slice of the offering paid 6.9% over the Libor benchmark rate, similar to returns typically found on junk-rated corporate bonds and far greater than the 2.2% available on 10-year U.S. government debt at the time. For the second tranche, which had looser triggers for a writeoff, premiums were a whopping 11.5%.
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