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The Group has completed distribution of Rs 623.38 crore, on an interim basis, to the secured lenders/secured financial creditors of RMGL comprising Union Bank of India, Bank of India, Indian Bank, Punjab & Sind Bank, UCO Bank, Bank of Baroda, Punjab National Bank and Indian Overseas Bank.

The company said it will use the funds for products and platform strengthening and also for global expansion, including the US.

Friday saw markets gain close to 1,180 points on BSESENSEX and 320 points on NIFTY. This not only wiped out the losses but also helped in the week closing with gains. BSESENSEX gained 844.68 points or 1.39 per cent to close at 61,795.04 points while NIFTY gained 232.45 points or 1.28 per cent to close at 18,349.70 points.

Rupyy crossed Rs 500 crore of monthly disbursal volume of car loans in September. The brand plans to hit Rs 10,000 crore annualised disbursals by March 2023.

Under a new brand name  UGDX', the company said it will open three campuses in the US (the San Francisco unit goes live in January), five in India (Delhi and Chennai) and one each in Singapore and Middle-East.

Dividends due to BP in the amount of $700 million for the second half of 2021 were paid in full. In compliance with the procedure for interacting with foreign contractors established by Presidential Decree No. 95 dated March 5, 2022, the funds have been transferred to a special C-type account established by Rosneft.

According to Cognizant, the revenue for the Q3 went up to about $4.9 billion up from about $4.7 billion of Q3 2021. The company follows the calendar year as its accounting year. The earnings per share stood at $1.17 ($1.06 Q32021). "Revenue and bookings were below our expectations as company specific fulfillment challenges were compounded by the impact of an uncertain macroeconomic backdrop," said Brian Humphries, Chief Executive Officer.

The Fed Chairman, Jerome Powell was quoted as saying by reports that the bank is firmly committed to lowering inflation. The aggressive rate hike by the Federal Reserve will put further pressure on the stock markets globally, especially on rising economies like India. Every rate hike by the US Federal Reserve forces American investors to pull out funds from emerging markets.

Prime Minister Narendra Modimade the observation while inaugurating "Invest Karnataka" a three-day Global Investors Meet (GIM), under the theme "Build for the world" here. While participating virtually in the event, Prime Minister Modi emphasised that investment in India is about investment for a better, cleaner and safer planet. "Let us all come forward to change crores of lives," he underlined.

These drivers will make it the world's third-largest economy and stock market before the end of the decade, Morgan Stanley said in a report titled, "The New India: Why This Is India's Decade". India's GDP is likely to surpass $7.5 trillion by 2031, more than double current levels, making it the third-largest economy and adding about$500 billion per annum on an incremental basis over the decade, the report said.