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The rupee slumped to a new record low of 56 to the dollar on Wednesday weighed down by global risk aversion, with the Reserve Bank of India's intervention earlier in the day seen as too..
The Reserve Bank of India (RBI) has asked the promoters of Kotak Mahindra Bank to reduce their stake from the current 45% to 10% by 2016 in order to conform to extant banking licence..
The state-run Small Industries Development Bank of India or Sidbi has committed 30% of its Rs 100-crore microfinance development fund to some of the country's poorest microfinance companies..