Musk says it's "quite likely there will be a significant investment in our relationship with India in the future,” adding that he thinks "India has more promise than any large country in the world"

It’s feared the hiring slowdown could affect consumption amid warnings of economic ‘headwinds' and with the IT sector accounting for 8% of India's GDP

"De-dollarisation is evident in FX reserves where [the dollar's] share has declined to a record as share in exports declined but is still emerging in commodities," the US bank noted

In contrast to the rupee, other Asian currencies were mostly higher after US Federal Reserve chairman Jerome Powell struck a moderately dovish stance

Trying to prove who had invested in foreign portfolio investors who then pumped money into Adani could be an arduous task, a court-appointed panel said

"(An) analysis would have to be conducted on the documents received from various sources before conclusive findings can be arrived at," the regulator said

The probe comes after a report by US short-seller Hindenburg alleged entities linked to Gautam Adani's brother Vinod had moved "billions of dollars" into the conglomerate

The group's flagship firm, Adani Enterprises, slid nearly 7% to a near four-week low, while Adani Ports tumbled more than 5%

Over the weekend, India’s SVC Bank rushed to calm panicked depositors after they mistook it for the California based Silicon Valley Bank

The legislation led to laws that give India's Karnataka state “one of the most flexible working regimes in India,” according to a report by the Financial Times

Last July, the RBI introduced a new mechanism to settle international trade in rupees, aiming to promote exports and facilitate imports

Lenders will release 31 million pledged shares of Adani Enterprises, and 155 million shares of Adani Ports, the group said in a statement on Tuesday.