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Reserve Bank of India’s monetary policy committee (MPC) announced the decision on Tuesday.

He proposed changes to public sector banking, including reducing the number of state-run lenders to five, getting government stakes down in some of them to under-50 percent, or merging a few of them or even public private partnerships in banking.

The release was issued after a meeting between Finance Minister Nirmala Sitharaman and heads of public sector banks (PSBs) as well as private lenders, including HDFC Bank, ICICI Bank, Axis Bank, Kotak Mahindra Bank and Citi Bank.

Flint's departure was revealed as HSBC said it was facing an 'increasingly complex and challenging global environment'.

Due to the shutdown since July 24, the MCL has incurred cumulative operational losses up to 21.04 lakh tonne of coal, 24.20 lakh tonne of despatch and 20.54 lakh cubic metre of over burden removal while its coal value loss stands at Rs 213.60 crore.

India has registered a trade deficit in 2018-19 with as many as 11 RCEP member countries - including China, South Korea and Australia - out of the grouping of 16 nations that are negotiating a mega trade pact since November 2012.

The Nikkei Manufacturing Purchasing Managers' Index, compiled by IHS Markit, rose to 52.5 in July from June's 52.1. It has remained above the 50-mark separating contraction from growth for two years.

The stock was worst hit among the BSE's 30-share key index frontline companies. On the NSE, the shares dropped 4.63 per cent to close at Rs 674.80.

Colorado Governor Jared Polis said the delegation will focus on expanding trade with India through partnerships in areas like renewable energy, clean technology and smart mobility.

At 9.19 am, Coffee Day Enterprises shares were locked in a 20% lower circuit at Rs 153.40. The stock, as of its Monday’s closing price, has corrected nearly 27% in the last one year.

At the interbank foreign exchange (forex), the domestic currency witnessed a heavy volatility. The local unit opened at 68.92 a dollar and touched a low of 68.95 and high of 68.73 during the day.

The plan is to first sell a small stake in LIC through an initial public offering (IPO) and then later dilute the government’s holdings further, the report said.

While presenting the Budget, Nirmala Sitharaman had said that India would look to issue overseas foreign currency sovereign bonds in addition to raising funds from the domestic market.

Finance and Corporate Affairs Minister Nirmala Sitharaman said the draft law will also ensure more accountability and better enforcement to strengthen the corporate governance norms.

This month, Finance Minister Nirmala Sitharaman said in her budget speech that India would look to issue overseas foreign currency sovereign bonds.

Besides tracking firm global cues, benchmark indices rallied on gains in index heavyweight HDFC and HDFC Bank stocks. Investors are also upbeat ahead of the expiry of July futures and derivatives contracts.