The fundraising suggests a likely return of investor confidence in the bank after the Reserve Bank of India on Saturday said the private lender has sufficient capital despite a likely hit on its net worth.
The Reserve Bank of India has lifted all restrictions on banks opening and maintaining cash credit accounts, offering greater flexibility for short-term working capital loans.
Bank of America Securities upgraded Swiggy to buy, citing its stronger balance sheet after a major fundraise, rising cash generation in food delivery, and potential
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