Indonesia said fiscal and monetary policies are in sync to cushion the economy from the rising dollar, demonstrating an all-hands-on-deck approach, with the central bank signaling they’re intervening more actively to aid the rupiah, Bloomberg News reported. “We work very closely with Governor Perry in order for us to be able to adjust the macro stance to adapt with this new level of pressure,” Finance Minister Sri Mulyani Indrawati said in a Bloomberg Television interview on Thursday, referring to Bank Indonesia’s top policymaker.

The Ministry of Corporate Affairs (MCA) has sought stakeholders’ comments to revamp various rules under the Insolvency and Bankruptcy Code (IBC), including those relating to personal guarantors, financial services providers and the pre-packaged scheme, the Economic Times of India reported. In a notice, the ministry also said it’s seeking to tweak the rules on the application to the adjudicating authority, the annual statement of accounts and the annual report rules, as stipulated by the Insolvency and Bankruptcy Board of India (IBBI). The notice has been uploaded on the IBBI website.

Bank of Japan Governor Kazuo Ueda reiterated monetary policy will stay accommodative for a while as policymakers continue to buy government bonds, Bloomberg News reported. The BOJ would eventually reduce its bond buying at an unspecified timing in the future, he told an audience at the Peterson Institute for International Economics in Washington on Friday. But it judged it was “dangerous” to completely remove its bond market intervention in March, when it raised interest rates for the first time in 17 years and ended its yield curve program, he added.

The Mumbai bench of the National Company Law Tribunal (NCLT) has disposed of two insolvency resolution applications filed by State Bank of India and IDBI Bank against Mumbai Metro One after lenders agreed to one-time settlement (OTS) of dues, the Times of India reported. Mumbai Metro One Private Ltd (MMOPL), a joint venture between Reliance Infrastructure (RInfra) and Mumbai Metropolitan Region Development Authority (MMRDA), will be taken over etirely by MMRDA.

People across China are being weighed down by their debts and a system that penalizes them for not paying the money back. Beijing is cracking down on delinquent debtors by seizing their salaries or restricting them from getting government jobs, as well as curbing their access to high-speed trains and air travel. Many are forbidden from buying expensive insurance policies and told they aren’t allowed to go on vacation or stay in nice hotels. Authorities can detain them if they don’t comply, the Wall Street Journal reported.

Hinduja National Power Corporation Ltd (HNPCL) on Tuesday requested the National Company Law Tribunal that the insolvency petition filed by public sector undertaking Bharat Heavy Electricals Ltd against it be dismissed given that the PSU had not completed the project as per the contract, the Economic Times of India reported. The case has been dragging on for over four years, where BHEL has contested that HNPCL failed to make a payment of ₹281 crore towards the works it had carried out.

Japanese financial authorities should consider conducting coordinated currency intervention with other countries to support the yen, the head of the Tokyo Chamber of Commerce and Industry said, Bloomberg News reported. Small and mid-sized Japanese companies are suffering from the rising costs of imported materials as the yen trades near a 34-year low against the dollar, TCCI Chairman Ken Kobayashi said Wednesday in a press conference, Kyodo News reported. Kobayashi’s comments came a day after Takeshi Niinami, president of Suntory Holdings Ltd.

Fitch Ratings has downgraded the outlook for six Chinese state-owned banks amid concerns about the government’s ability to support the sector in the event of stress. The move comes after the rating agency cut its outlook for China’s sovereign credit rating last week, the Wall Street Journal reported.

China's economy grew faster than expected in the first quarter, data showed on Tuesday, offering some relief to officials as they try to shore up growth in the face of protracted weakness in the property sector and mounting local government debt, Reuters. However, several March indicators released alongside the gross domestic product data - including property investment, retail sales and industrial output - showed that demand at home remains frail, weighing on overall momentum.