India’s banking system faced a cash crunch. The Reserve Bank of India added funds to ease the situation. This followed negative balance of payments and foreign investor outflows. The RBI sold dollars to bolster the rupee. Trade deficit widened, and deposit growth slowed. These factors contributed to the liquidity deficit. Borrowing costs for banks and companies increased.
J Infratech files IPO papers; eyes Rs 600 cr via fresh issue
J Infratech Ltd has submitted preliminary papers for an initial public offering valued at Rs 600 crore. The IPO includes a fresh issue and an