Abstract

Libor as reference interest rate has been an ubiquitous part of global financial plumbing over decades. However, in the aftermath of it being tainted by scandle of rigging as also structural changes in global inter bank market in the wake of Global Financial Crisis, Libor is now approaching its twilight as a benchmark in the financial industry. Quests now are on all over the world for its appropriate successor. Authorities are grappling with several issues and challenges facing the ensuing change over.

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