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The dollar has fallen because aggressive interest rate hikes by the U.S. Federal Reserve are no longer expected, whereas other major economies are continuing with bigger rate increases even as inflation has eased.

Global central banks that raced to raise interest rates last year amid soaring inflation are now laying the groundwork in unison for a pause that, while not yet promised, is coming into view for later this year.

While the ECB explicitly alluded to at least one more hike of the same magnitude next month and reaffirmed its commitment in battling high inflation, President Christine Lagarde acknowledged the euro zone outlook had become less worrisome for growth and inflation.

He said it is for regulators, markets and the company to address the issue. "The government does not concern itself with the fortunes of individual private sector companies," Somanathan told ET during a post-budget interaction. "We are confident that the public financial institutions are in a very strong position and their exposures to any one private company is not of a magnitude that would create any unease or difficulty for the public financial institutions."

Under RBI guidelines, NBFC-ULs have to implement a board-approved policy for adopting the enhanced regulatory framework applicable to them and mandatorily list within three years of this. Tata Sons chairman N Chandrasekaran met RBI officials in this regard last week, said the people cited above.

Promoter holding in the bank is 16.51% - IndusInd International Holdings had 12.58% and IndusInd Ltd had 3.92% on December 31, 2022, according to a stock exchange disclosure. "To increase stake in the bank, Hinduja Group may need to infuse ₹10,000-11,000 crore ($1.2-1.3 billion). They may infuse the money by issuing preferential shares," said the person cited above.

Since the slide in prices and spiralling yields of different dollar bonds issued by Adani companies in offshore markets would make it difficult for Adani to raise fresh dollar loans and bonds at a reasonable cost from international investors, the support of local lenders is crucial.

Currently, the rating agency has assigned ratings to 23 infrastructure and financial sector-linked entities of the Adani Group

Revenue from operations came in at Rs 3,475 crore, up 8%, compared with Rs 3,208 crore in the same quarter last year.

At 22% of overall spending, capital expenditures would be at record high and aid achieving over 6% GDP growth next year