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The NSE Nifty advanced 405.75 points or 2.65 per cent for the week to settle at 15,699.25. The BSE Sensex closed the week at 52,727.98, up 1,367.56 points, or 2.66 per cent. The BSE midcap and the BSE SMallcap indices rose 2.38 per cent and 1.61 per cent, respectively.

Robinhood drew the ire of lawmakers on Capitol Hill last year after the surge in demand for meme stocks prompted the firm and some of its competitors to temporarily prevent clients from buying shares of some companies. The episode led to congressional hearings, threats of new regulations and added scrutiny for some of the biggest names in stock trading.

"The process takes time; it’s not an overnight process and I also think to do good deeds for others. On the other hand, I also think about how can I make a difference in their lives? It is not about just giving charity or giving money, but my strong belief is that you have to work on building competence; you have to work on building skills, and you have to work on building those kinds of capabilities that should be sustaining."

Stocks rebounded this week as financial markets have been roiled over worries that rapid rate hikes by the Fed to rein in 40-year-high inflation could cause a recession.

The first half of 2022 has been a challenging one for investors. The S&P 500 is down around 18% year-to-date, on track for its worst first half of any year since 1970, according to S&P Dow Jones Indices, as the Fed tightens monetary policy in its fight against the highest inflation in decades.

Dollar buying by oil companies and foreign portfolio investors (FPIs) who have been sellers in equities were the major reasons for the persistent weakness in the Rupee.Brent Oil has been consistently above $105 per barrel though it has fallen from a peak of $125 recently. Oil forms 83 per cent of our imports and if it remains higher our current account and trade account remain higher.

Nifty 50 is down by about 18% from its October 2021 high of 18,604. The mid-cap and small-cap indices have fallen more than 20% and entered the bear market.

Instead, RBI has asked for tokenisation as a safer and more convenient alternative to card storage. Through tokenisation, one’s sensitive card information can be replaced with a non-sensitive uniquely generated code called ‘Token’.

Economists anticipate that India’s forex reserves, which provides a cushion against any external risks, may fall further to about $565 billion by the end of FY23 as the Asian economy would use its capital account to finance current account deficits which is projected to widen to over 3% of GDP in FY23.

The bank would look to raise Rs 5500 crore through Basel III compliant additional tier 1 bonds, while the target to raise through tier 2 bonds is fixed at Rs 3500 crore. The timing and extent of fundraising would however entirely depend on the market conditions, the bank said in a regulatory filing to stock exchanges.