PSU bank stocks rallied after reports suggested the government may ease foreign investment limits and explore further consolidation. Potential reforms include corporate entry into banking under strict safeguards. The government aims to build stronger banks to support economic growth, following the 2019 merger of 10 PSU banks into four.
India Inc reduced overseas bond issues on local liquidity, rupee fall
Indian companies scaled back overseas bond issuances as improved domestic liquidity and a weaker rupee made local fundraising more attractive.