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If the absolute fiscal deficit will be, as projected, at ₹16.6 lakh crore, the higher growth will depress the gap to 6.1% of GDP in FY23, compared with the 6.4% estimated in the budget.
The Reserve Bank of India (RBI) is said to have put on hold licensing of the New Umbrella Entity (NUE) network, a fintech institution planned as a rival to National Payments Corporation of India (NPCI).
Torrent Investments on Friday proposed to pay its entire bid of ₹8,640 crore upfront for acquiring Anil Ambani-promoted Reliance Capital, doubling its immediate payment offer made a day after the auction ended late in December, two people aware of the development told ET.
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