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The global economic outlook remains downbeat and some countries are expected to slip into recession in 2023, but it is too early to say if there will be a widespread global recession, the IMF said on Thursday .

Nomura said India’s terminal repo rate in this tightening cycle may rise to 6.1% by March 2023, against its earlier terminal rate projection of 6%. The repo rate currently stands at 5.4%.

This assumes importance in strengthening financial stability amid global economic headwinds which saw inflation across the globe skyrocketing following supply side disturbance as a result of the Ukraine-Russia war. The 26th FSDC meeting held in Mumbai was chaired by the union finance and corporate affairs minister Nirmala Sitharaman.

A majority of lenders did not favour accepting a non-compliant EMD since that would require changing the terms of the RFP and reinviting bids. Some lenders, however, were worried that the alternative option - liquidation of the twin Srei companies - will result in lower recoveries.

The proposal sent as special resolution garnered only 0.92 per cent votes from shareholders who participated in the voting, showed the minutes of the meeting. Of the total 6,65,883,603 cast, only 6,062,264 were in favour of the proposal.

The tenure of the bonds is three years and is set to mature on September 15, 2025.The bonds bear a coupon of 7.39 per cent per annum On Thursday, shares of SBI Card closed flat at Rs 958.20 apiece on the BSE.

The second-largest crypto by market cap, Ethereum, was trading with a cut of 0.68 per cent at $1590. On the other hand, Ethereum Classic was up by over 4 per cent at $38.48 in a volatile session.As per a Coindesk report, traders of futures tracking the two tokens took on some $80 million in cumulative losses, with Ether futures seeing $67 million in liquidations.

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Ethereum developers say the upgrade will make the network – which houses a $60 billion ecosystem of crypto exchanges, lending companies, non-fungible token (NFT) marketplaces and other apps – more secure and scalable.

The Dow Jones Industrial Average ticked down 72 points, or 0.2%. The S&P 500 dipped about 0.4%, and the Nasdaq Composite lost 0.5%.