Assuring lending support to non-banking financial companies, SBI Chairman Rajnish Kumar on Sunday said there was no concern on liquidity of such firms, amid ongoing debt crisis in IL&FS Group.

Four independent directors, namely Renu Challu, Shhubhalakshmi Panse, Uday Ved and SS Kohli, and non-executive director Vibhav Kapoor have also stepped down from the board of IL&FS Financial Services.

Some of the banking as well as housing finance companies stocks saw severe beating today which dragged the markets down. Among housing finance companies, Dewan Housing Finance (DHFL) stock was the worst performing.

Four independent directors, namely Renu Challu, Shhubhalakshmi Panse, Uday Ved and SS Kohli, and non-executive director Vibhav Kapoor have also resigned from the board along with Bawa.

The debts incurred by IL&FS in the form of bank loans accounted for around 0.5-0.7 per cent of overall banking system loans as on March 31, 2018.

The stock closed 17.04% or 23 points lower on the NSE.  On the BSE, the stock closed 16.03%  or 21 points lower at 113 level. The market capitalisation of the stock fell by Rs 5,727 crore to Rs 30,013 crore on the BSE.

According to the global financial services major, the valuations of Indian equities have stretched further largely driven by \"financialisation of savings\", improving corporate earnings outlook especially post the GST framework, and India's relative resilience to a trade war with the US.

Defaulting companies in the power sector as well as some sugar, shipping and textile companies that had seemed destined for bankruptcy court under the RBI's new norms on stressed assets got a last-minute breather from the Supreme Court yesterday.

Looking to invest money for short-term, but equities are not your cup of tea? You may consider investing in a fixed-income instrument as one from Tata Group's stable has just hit markets.

Earlier, the Indian currency opened at a fresh record low of 72.18 to the dollar, down 45 paise compared to Friday's close of 71.73 level. The currency witnessed intense volatility and hit all-time low of 72.64 during morning deals.

The regulator is hiring these officers as part of its plans to beef up the headcount for faster and more effective execution of newly granted powers.

Alice Vaidyan has set the foundation for a bigger play for GIC Re in both domestic and global market.

Indian rupee today dived to a new all-time low of 70.52 against the US dollar. The fall in its value comes on the back of strong US consumer confidence data.

The net NPA is also expected to decrease to 4.3 per cent, from 5.92 per cent as of June-end this year, says the ICRA report. The rating agency cautioned that GNPA and NNPA may be higher at 12.2 per cent and 5.6 per cent, respectively, in absence of resolution.

Shares in the firm rose nearly 3 per cent today, after the announcement of share buyback. The stock closed 2.30% or 30 points higher at 1,352.50 level on the BSE. It has gained 7.60% since the beginning of this year.  During the last one year, the stock has clocked 20.29% gains.

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The observations came after the committee noted that the rules introduced by Reserve Bank of India (RBI) to help banks to counter the non performing asset (NPA) problem have hit the MSMEs very hard.

Given the record low of 70.08 per dollar that the rupee slipped to today, it's hard to imagine a time when it could hold its own against the US dollar.