The International Financial Services Centres Authority is exploring the option of non-bank financial players acting as risk aggregators for small customers in GIFT City to facilitate FX transactions and manage interest rate risk exposures.
The Indian rupee weakened to a record low of 87.487 per dollar on Wednesday, before closing at 87.465 per dollar, down 40 paisa from its
Ujjivan Small Finance Bank rebounded 16% from its 52-week low after announcing plans to apply for a universal banking license. Despite weak Q3 results, analysts
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