Prime Minister Narendra Modi on Friday visited flood-ravaged Kerala and announced an immediate financial assistance of Rs 500 crore. He also announced an ex-gratia of Rs 2 lakh per person to the next of kin of the deceased and Rs 50,000 to those seriously injured.

Rupee last week dropped to a record low of 70.32 to a US dollar as political turmoil in Turkey and concerns about China's economic health continued to support safe-haven assets and weighed on emerging market currencies.

Kerala has been hit by the worst-ever floods in a century. So far, over 357 people have lost their lives and over 10,000 people evacuated from the worst-affected areas of southern state.

In his Independence Day speech, Prime Minister Narendra Modi said that his government would launch the ambitious the Ayushman Bharat healthcare scheme on September 25.

The mega deal, announced in May this year, is the largest so far in the Indian retail space. This is also Walmart's biggest acquisition and will help it compete more aggressively with its US-based rival Amazon.