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ZestMoney has held talks with other potential buyers over the past two months as its cash runway shortened, people in the know said.

Nageswaran added that capacity utilisation has reached levels that would trigger the return of private capex. According to the CEA, private sector capex in the first half has crossed Rs 3 lakh crore and if the pace continues, India should be looking at capex investment of Rs 6 lakh crore this year.

Top bankers say that cash withdrawal from ATMs slowed down in major cities, as payments through UPI (united payments interface) have clearly taken over. However, ATMs are still very relevant for cash customers in India, especially in the tier-2 to tier-6 towns.

Bharucha is a career banker with more than 35 years of experience and has been associated with the bank since 1995. In his current position as executive director, he is responsible for wholesale banking covering areas of corporate banking, PSUs, capital & commodities markets, financial institutions, custody, mutual funds, global capability centre & financial sponsors coverage, and banks coverage.

Formulating monetary policy has become more challenging in the current environment because of data lags and also frequent reviews, Patra said. "On the basis of data one month and three months ago, I will have to assess what inflation and growth are going to be one year down the line," he said, adding that policy has to be forward-looking but based on data which is old.

ZIM Laboratories is a pharmaceutical company, focused on providing innovative drug delivery solutions that provide patient convenience and adherence to drug treatment.

Also, the regulator barred the noticee from the securities markets for a period of six months or till the expiry of six months from the date of completion of refund to clients/ investors, whichever is later.

The fundraising, if approved, would be through a public issue or private placement during fiscal 2023, the bank added.

The Sensex closed 1.2% higher at 62272.68 points after hitting an intraday record high of 62412.33 points. The Nifty50 ended at a record high of 18,484.10 but is a little over 100 points away from its intraday lifetime high of 18,604 touched in October 2021.

Rajeswari Sengupta, an associate professor at IGIDR, said the rupee is expected to trade at 84 to a dollar and even plumb to 85 in the second half of the next year, only if the Reserve Bank of India (RBI) stops intervening in the money market.