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By Sagar Sen and Krity Ambey The Reserve Bank of India and the European Securities and Markets Authority are on the verge of breaking the deadlock over the latter's de-recognition of Indian clearing houses by signing a pact similar to the one between the RBI and the Bank of England, Department of Economic Affairs Secretary Ajay Seth said today. The matter is likely to be resolved by September, around a month before the deadline given by the European regulator, Seth said.
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