The uneasy truce is likely to see the RBI ease up on some lending restrictions to help the government stimulate the economy, said the sources.

RBI Deputy Governor Viral Acharya compared government's 'myopic' economic policies to a T20 cricket match, in contrast to the long-term planning of a central bank, which he called a Test match.

China's crackdown on polluting steel plants helped HEG's graphite electrode business grow more than nine times.

What started out as a debt default crisis at IL&FS has snowballed into a liquiditysqueeze, triggering panicky outflows from mutual funds and risk aversion atlarge.

And even though both have fallen to 34,000 and 10,200 level from their peak, the growth in India's stock markets is hiding more than it's revealing.

Tata Sons, the investment holding company of the $103-billion conglomerate, reportedly saw its net profit dive down 76% in the last fiscal, as per filings with the Registrar of Companies.

The move will help provide liquidity to housing finance companies and NBFCs which have come under pressure following series of default by IL&FS group companies.