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The decision, which follows the RBI halting printing the notes in 2018-19, is viewed as a positive move for banks, which could experience a marginal uptick in deposit accretion in the short-term.

"Our policy rate may not need to rise as much as it would have otherwise to achieve our goals," Powell said at a central bank conference in Washington

The Dow Jones Industrial Average rose 47.04 points, or 0.14%, at the open to 33,582.95

Zomato, a food delivery aggregator, reported a narrowing of losses in the March quarter, with consolidated net loss narrowing to Rs 188 crore from Rs 360 crore a year ago. Revenue increased 70% YoY to Rs 2,056 crore.

Nifty today formed a bullish hammer pattern on the daily chart while a bear candle with upper and lower shadows were seen on the weekly scale. Normally formation of such hammer patterns post a reasonable decline signal possible reversal on the upside post confirmation, said Nagaraj Shetti of HDFC Securities. However, a decisive move above 18450 levels is likely to negate the bearish effect of this pattern, he said.

Indian equities snapped their three days long losing streak and ended on a positive note. At the close, Nifty gained 73 odd points and settled at 18,200 levels.

The Nifty IT index closed 1.47 per cent up at 28303.65.

Net Interest Income (NII), the difference between interest earned and interest expended, grew by nearly 19% sequentially to Rs 2,472 crore. Non-interest income declined by 39% quarter-on-quarter (QoQ) to Rs 629 crore for the quarter.

The Indian rupee weakened against the U.S. dollar this week, as hopes for a breakthrough in U.S. debt ceiling talks lifted the dollar index to over 8-week highs. The local currency hit its lowest level since March 16 at 82.8010 earlier in the session.

Banks and insurance companies are yet upload or share the details with this central database, wherein it can be smoothly as an individual then go to buy an insurance policy.