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The Indian economy has developed resilience, enabling it to withstand large shocks and navigate an increasingly turbulent global landscape, the governor said, urging banks and financial institutions not to lower their guard.

Finance Minister Nirmala Sitharaman has stated that the government is focused on reducing its debt burden and has been practicing responsible spending to avoid burdening future generations. The aim is to bring down the fiscal deficit to 4.5% of GDP by FY26. Sitharaman also emphasized the need for reforming multilateral institutions in order to effectively address global challenges. The government has been cautious of its debt levels and is exploring strategies to reduce it. The Jan-Dhan Yojana has played a crucial role in promoting financial inclusion in the country.

The new guidelines are aimed at "strengthening overall resiliency, the procedures at or governance of QRTAs for handling disruption, augmentation of systems and practices to achieve better Recovery Time Objective (RTO) and Recovery Point Objective (RPO), and to improve overall preparedness by conducting periodic announced/ unannounced drills.

"A meeting of the Board of Directors of the company is scheduled to be held on Friday, October 27, 2023, inter alia, to consider and approve the standalone and consolidated unaudited financial results of the company for the quarter and half year ended September 30, 2023," the company said in a filing.

During the quarter, total revenue increased 30 per cent year-on-year (y-o-y) to Rs 3,387 crore from Rs 2,596 crore in the year-ago period due to incremental revenue from renewable, portfolio and strong thermal performance on the back of a buoyant merchant market, it stated.

Its asset quality improved with gross Non Performing Assets (NPAs) falling to 3 per cent from 3.82 per cent and net NPAs to 1 per cent from 1.14 per cent, L&T Finance Holdings managing director and chief executive Dinanath Dubhashi said.

Indian frontline indices closed in the red on Friday witnessing their third consecutive fall this week. The S&P BSE closed at 65,397, down 232 points or 0.35%. The broader Nifty50 closed at 19,543, losing 82 points or 0.42%.

Marquee funds, including Citigroup, Axis MF, Bandhan MF, ADIA, Fidelity, Goldman Sachs, Morgan Stanley, and Motilal Oswal among others bought stakes in the company through the deal. In August this year, SoftBank offloaded about 1.17% Zomato stake under a block deal, which was valued at Rs 947 crore. Back then, Morgan Stanley, Nomura, Kotak Mahindra MF, Invesco MF, Goldman Sachs, Franklin Templeton MF, Avendus, and Societe Generale, among others picked up the stake.

The Nifty Realty index was trading 0.12 per cent down at 605.2.

Several midcap stocks in the Indian market showcased significant movements by surpassing their 20-day SMA, indicating potential changes in their stock trends.