The comments by the finance minister came a day after RBI hiked interest rate by 50 basis points in a bid to bring inflation to its comfort zone and in line with aggressive policy tightening by key global central banks. The third straight hike took the overall increase in the federal fund rates by 190 bps to 5.90 per cent – the highest since April 2019.
Debt, equity holders approve merger of IDFC with IDFC First Bank
“We wish to inform that the resolution approving the Scheme was passed by the overwhelming majority of 99.95 per cent of the equity shareholders, representing