India's central bank said on Friday it has taken control of the board of New India Co-operative Bank for 12 months, a day after its depositors were barred from withdrawing money from the lender. The action,

Projects FY26 inflation at 4.2%, GDP growth at 6.7%

The Indian rupee surged nearly 1%, marking its biggest jump since November 2022, driven by strong intervention from the central bank. Leveraging its reserves, the RBI sold USD 2–3 billion to stabilize the currency amid global economic disruptions and high tariffs,

The Indian rupee is poised to open higher on Wednesday, adding to its recovery over the last two days that was fuelled largely by heavy intervention by the central bank.