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In his 2026 bud­get pre­sen­ta­tion last week Mon­day, Min­is­ter of Fi­nance Dav­en­dranath Tan­coo men­tioned Re­pub­lic Bank and First Cit­i­zens twice.

On the first oc­ca­sion, this is what Mr Tan­coo said:

“For­eign ex­change short­ages re­main a chal­lenge for busi­ness­es, lim­it­ing ac­cess to raw ma­te­ri­als and pro­duc­tion. The un­fair prac­tices at ma­jor com­mer­cial banks and the Ex­im Bank have ex­ac­er­bat­ed these short­ages.