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The economic shock was anticipated in 2023 and we seem to be in a window right now where we are transitioning from the price shock into the economic shock –we are seeing issues within credit in US and the regional US banks.

"The dispute is between the Hiremath family and BNK family, and there are no monetary claims against the company. The management of the company strongly believes that this dispute between the shareholders, as private parties, is not expected to cause any negative impact or have any contagion effect on the performance and operations of the company," Hikal said in an exchange filing.

The resolution process timeline, which was initiated in April 2022, ends on May 25 after taking into account the various procedural delays. But banks will petition the National Company Law Tribunal (NCLT) as soon as Friday to extend the timeline by at least 15 days to ensure enough time for voting.

Net profit increased 83% to ₹16,695 crore in the quarter ended March 2023 from ₹9,114 crore a year ago. It crossed the ₹50,000-crore mark for FY23, the first time annual profit for any bank in India crossed that level.

The promoters of Vedant Fashions, owner of ethnic wear brand Manyavar, are selling up to 9.88% stake or 2.40 crore company shares through an OFS. Retail investors can bid for the OFS on Friday, May 19, above the indicative price of ₹1,206.35. Shares of Vedant Fashions ended flat at ₹1,248.85.

The slowdown in sales growth for large quick-service restaurants, lifestyle, apparel, and discretionary products in India has been observed in the March quarter and in April. This slowdown is attributed to higher inflation, moderation in pent-up demand, and tighter financial conditions. While retail sales grew in strong double digits consistently over the past year, it slowed to 6% in both March and April - the slowest sales expansion in over 14 months, according to Retailers Association of India (RAI).

While the RBI had conducted a five-day variable rate repo auction on March 24, the last time it had carried out a 14-day variable rate repo auction was on March 10. In a variable rate repo auction, banks borrow funds from the RBI.

As per the terms of the offer, six lenders have jointly agreed to sell their outstanding debt of ₹873 crore for ₹160 crore, equating to a 18% recovery for the lenders. Rare ARC will have the first right to match the counteroffer, if any.

The Federal Reserve is divided on how aggressively to target inflation, with some officials believing that more rate hikes are needed to reduce the high levels of inflation, while others are suggesting that a wait-and-see approach is more appropriate. Dallas Fed president Lorie Logan indicated her support for an additional rate hike next month, underscoring the divisions at the Fed. Other officials, including Chicago Fed president Austan Goolsbee and Fed governor Philip Jefferson, have also suggested adopting a wait-and-see

The Morningstar report on offshore funds and ETFs in India shows that inflows into these funds slowed down in the first quarter of this year, as investors were cautious about the global economy. However, this was the third consecutive quarter of net inflows, indicating that long-term investments in these funds are still being made