RBI Governor Raghuram Rajan Tuesday said the inclusion of Chinese yuan into IMF's reserve currency basket may lead to more devaluation of the unit but ruled out any such "big bang" internationalisation for the rupee and favoured a "steady" opening up.
Reserve Bank of India Governor Raghuram Rajan said on Tuesday he expects bad debt-burdened banks to clean up their balance sheets by March 2017, warning the central bank would monitor whether concessions made to lenders were being misused.
Shares of Bharti Airtel fell for the second straight session Tuesday, down 3.5 percent, even as the company announced investment of Rs 60,000 crore in the next three years to upgrade networks and improve quality of services as competition intensifies in the sector.
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