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The main concern is how accumulated rupee amounts in these accounts can be repatriated without attracting penalties in case the banks are from countries facing international sanctions such as Russia.

The government had budgeted Rs 39.44 lakh crore expenditure for FY23 and a total borrowing of Rs 14.13 lakh crore. The April-September borrowing was pegged at Rs 8.45 lakh crore.

The Indian subsidiary of Suzuki Motor plans to leverage the global resources of the Japanese parent and its alliance partner, Toyota Motor, to increase its overseas shipments, which in the last fiscal year accounted for a little over 40% of the exports from India.

While Grey Birch Investment sold 2.20 million shares worth 413 crore, Plenty Private Equity offloaded 1.84 million shares valued at 346 crore. Shares of PVR declined 4.4% to 1,845 on Thursday.

Agro-chemical firm, UPL, has acquired 26 per cent stake in Clean Max Kratos Pvt Ltd, which is into renewable energy. Clean Max was incorporated on July 28 with paid up capital of Rs 1 lakh.

The IPO consisted of the fresh issue of 15.8 million shares. The Thoothukudi-based private lender allotted 71,28,000 equity shares to 10 anchor investors ahead of the IPO, raising ₹363.53 crore at ₹510 apiece.

By definition, every downturn starts from a peak in the business cycle when activity is strong. The rapid shift from strong and rising economic activity into a contraction is what makes turning points hard to predict.

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.