The Indian rupee weakened to a record low against the US dollar due to broad gains in the American currency and corporate outflows. The Reserve Bank of India intervened but refrained from significant action. The Chinese Yuan’s weakness and corporate outflows also contributed to the rupee’s decline, as noted by Shinhan Bank’s vice-president.
The Rs 151 crore initial public offering (IPO) of Mumbai-based non-banking financial company (NBFC) Manba Finance is set to open for public subscription on September
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