The Reserve Bank of India has stepped in to halt the rupee’s fall. This move forces banks to unwind dollar positions, potentially leading to a Rs 4,000 crore loss for the banking sector. Banks had profited from differences in dollar rates between local and offshore markets. The RBI’s action aims to curb one-sided bets against the rupee.
Lupin Q1 PAT rises 16 pc at Rs 1,417 cr
Lupin Ltd has reported a remarkable sixteen percent surge in profit after tax for the first quarter, showcasing their continued success. The firm experienced considerable