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Markets are leaning toward a half-point hike in September and a one-in-three chance of 75 basis points (bp). Rates are seen peaking at least 3.5%, though some Fed members are arguing for 4% or more. "There are no signs that the labour market or inflation data are slowing sufficiently for the Fed to declare victory on inflation," said Brian Martin, head of G3 economics at ANZ.

The Fed needs to keep raising borrowing costs to bring high inflation under control, a string of U.S. central bank officials said on Thursday, even as they debated how fast and how high to lift them.

The dollar is "smartly higher" with central bank officials "all making clear the Fed still has work to do raising rates," even as they differed on by how much, Ray Attrill, the head of currency strategy at National Australia Bank in Sydney, wrote in a client note.

The government hiked the windfall profit tax on the export of diesel to Rs 7 per litre and brought back a tax on jet fuel exports, but slashed the levy on domestically produced crude oil in line with softening rates.

Still, the rapid, aggressive moves by the central bank have started to have an impact, and while officials say the US economy should continue to expand in the second half of the year, "many expected that growth in economic activity would be at a below-trend pace," the minutes said.

Cuban Central Bank officials for the first time met with the Reserve Bank of India and a group of five large local banks, including State Bank of India, Bank of Baroda, Union Bank of India, Bank of India and IBA, as part of discussions on possible bilateral trade through the recently established platform and other forms, said two people familiar with the matter.

To be sure, with inflation levels above the target band for over six months, the Reserve Bank has cumulatively raised the benchmark policy repo rate by 90 basis points ( one bps is 0.01 per cent) since may and is now at 5.4 per cent Though economic activity was sluggish in July compared to June, the recovery in the Indian economy is expected to gain momentum going by the preliminary indicators like investment in capex and pick up in consumption demand.

Based on supervisory data, in quarter-ending December 2021, the consolidated balance sheet of NBFCs grew at a faster pace than the corresponding period in the previous year. The bottom lines of the NBFC sector also improved in Q2 and Q3: 2021-22 with the waning of the second wave of COVID-19.

"Strong response to Syrma SGS public issue will hopefully open up the IPO market which has been shut for a long time," said Dharmesh Mehta, MD, DAM Capital Advisors, the lead banker for the issue. "A good company at a decent valuation will always have a strong appetite."

The shares were disposed of at an average price of Rs 357.61 apiece, taking the transaction size to Rs 1,046.45 crore.