Let me state in this context, brief details of a pilot initiative taken last year. We were approached by IFC for floating a rupee denominated paper in international market with a view to investing the proceeds in the Indian markets. IFC was permitted to issue USD one billion worth of such papers, which it has executed successfully.
The Latin phrase “Citius, altius, fortius", which translates as “Faster, higher, stronger", has been the motto of the Olympic Games since 1949. The French Dominican preacher Henri Didon originally coined the term back in 1891 for a youth sports competition, the aim being to motivate his students to give their level best and survive the stress of competing.