The Indian rupee weakened to 90.98/$1 on Tuesday, nearing all-time lows despite a weaker dollar index. Sustained foreign investor exits from Indian equities and high government bond yields weighed on the currency. The central bank intervened by selling dollars to protect the 91/$1 level, but the rupee is expected to continue its depreciation bias.
AU Small Finance Bank Q2 profit jumps 53% to Rs 858 crore
AU’s gross non-performing assets ratio fell 42 basis points (bps) to 1.99% at the end of September. This helped in 25% lower provision at Rs