Flipkart co-founder Sachin Bansal has said that he will deploy all the proceeds from the sale of his stake in the e-commerce player into his financial services venture Navi Technologies, which has applied for a universal banking licence with the Reserve Bank of India (RBI). Bansal could likely invest $400-450 million in the new venture.

Jamal Jabak urges central bank to release US dollars over a hard currency shortage limiting medical imports to the protest-hit country