The new ozone hole was discovered over the tropics, the area between the tropic of Cancer and the tropic of Capricorn, and has reportedly been there for over 30 years.
The reforms include loosening restrictions on foreign institutional investors' (FPIs') ability to invest in the debt market and raising the automated route's external commercial borrowing (ECB) cap from USD 750 million or its equivalent to USD 1.5 billion.