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On the Sensex and Nifty, the bulk of the gains was driven by Infosys, up 3.8%, and shares of lenders. The Nifty Bank advanced 2.2%, led by HDFC Bank, which moved up 3.3% after the Reserve Bank of India lifted restrictions imposed on its digital launches.

Oil prices slid to a two-week low on Tuesday on continued ceasefire talks between Russia and Ukraine and concerns about demand in China after a surge in COVID-19 cases. Brent futures dropped $4.20 or 3.9% to $102.70 a barrel by 0125 GMT after falling 5.1% the previous day.

While individual loans are expected to do well, business loans still face asset quality concerns. “Within the NBFC-Retail segment, personal credit, microfinance and gold loans are likely to be the primary growth drivers as other traditional asset segments-vehicle finance and business credit are still facing headwinds because of supply constraints and asset quality concerns" said Manushree Saggar, vice president, financial sector ratings, Icra.

While the RBI may have been comfortable about local inflation, expecting minimum impact from global factors, the assessment of fast-changing geopolitical dynamics on commodity prices and their stickiness will still hold lessons for the Indian central bank.

Aditya Birla MF, Axis MF, Morgan Stanley, ICICI Bank and AK Capital are said to have subscribed to these bonds that offer 6.85% for now every quarter, on a par with the sovereign benchmark bonds, market sources told ET. Individual investors could not be contacted immediately.

Brent futures fell $8.64, or 7.7%, to $104.03 a barrel by 10:59 a.m. EDT (1459 GMT). U.S. West Texas Intermediate (WTI) crude fell $8.74, or 8.0%, to $100.59.

Future Enterprises failed to disclose to the exchanges the information regarding the initiation of arbitration proceedings and also the passing of order dated October 25, 2020, in favour of Amazon.

In the international market, gold was trading lower at USD 1,970 per ounce and silver was flat at USD 25.58 per ounce.

The Dow Jones Industrial Average rose 56.18 points, or 0.17%, at the open to 33,000.37, while S&P 500 opened lower by 1.56 points, or 0.04%, at 4,202.75.

Paytm Founder & CEO says case being sensationalised and that not Paytm but Paym Bank has been asked not to onboard new customers. Sharma also says the entire board and management of Paytm Bank is in India and of Indian origin. An IT audit will be done and the report submitted to RBI.