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"The last few months are more for campaigning/sloganeering rather than actual spending. To that extent, I feel that we may see a tempering of actual capex spend from the government over the next couple of quarters. A real pick-up would be once the new cabinet is in place. For now, we would like to take advantage of any volatility in the prices of capital goods companies to add some from the ‘flow’ category of companies to our portfolio."

By reducing their stakes in the companies they founded or manage, insiders are creating space for local and foreign institutional investors to amass the kind of sizable positions they have long been unable to build. Nearly half of all publicly traded shares have been squirreled away by insiders, at a time when investors have begun to view India as a rare source of rapid growth in the global economy.

The index, which measures the dollar against a basket of six major currencies, fell 1.9% last week alongside a big rally in U.S. Treasures, and lost a further 0.5% overnight to 103.44.

Brent crude futures fell 19 cents, or 0.2%, to $82.13 a barrel by 0013 GMT while U.S. West Texas Intermediate crude was at $77.68 a barrel, down 15 cents, or 0.2%.

Spot gold was up 0.3% at $1,983.81 per ounce, as of 0041 GMT. U.S. gold futures also gained 0.3% to $1,985.70.

Unity Small Finance Bank, owned by Centrum group, plans to diversify into retail lending by entering the credit card and personal loan space. The bank will adjust its retail plan according to new regulations, and will introduce its own products on the retail side. The bank will also introduce digital business loans from Rs 25000 to Rs 30 lakh.

"They (AMC Repo) are trying to bring down that cost to attract more participants following feedback from the market. One of the discussion points with Sebi is to do with the step announced in the budget regarding TDS (tax deductible at source) on corporate bonds," one of the sources said.

With stringent rules on IPO financing put in place by the Reserve Bank of India (RBI) and the Securities and Exchange Board of India (Sebi), these lenders are keeping market borrowings at a bare minimum.

The government on Monday appointed Vinay M. Tonse as the Managing Director of the lender until November 30, 2025.