India throws Eurozone a $10b lifeline

India is doing its bit to help the troubled Eurozone weather the storm. As member of the BRICS, India  announced a lifeline of $10 billion — more than Rs 55,000 crore — for the Eurozone countries grappling with a sovereign debt crisis. The amount goes into International Monetary Fund’s $456-billion bailout corpus. Prime Minister Manmohan Singh made the announcement at the G-20 summit at the Mexican resort of Los Cabos.

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