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India’s central bank surprised financial markets Thursday by maintaining status quo on interest rates for the first time in 11 months as financial stability concerns outweighed those surrounding inflation.
The Reserve Bank of India (RBI) differed with the World Bank and painted a better picture of India’s growth prospects and future inflation trajectory, reflecting the assessment that better crop output should help ease price pressures. A section of bank economists however see RBI's projection as “optimistic” given the global headwinds.
Byju’s lenders have sought up to $200 million (about ₹1,600 crore) in prepayment along with a higher rate of interest from the Bengaluru-headquartered company as a precondition to restructure its $1.2 billion (₹9,600 crore) term loan B (TLB) which is currently under review, said people with direct knowledge of the matter.
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