The Centre is learnt to have reached out to global buyout funds and financial institutions, such as the Carlyle Group, TPG Capital and Prem Watsa-controlled Fairfax Holdings, to gauge investor interest in buying majority stakes held directly by the government and Life Insurance Corporation of India (LIC) in the bailed-out lender, investment banking and private equity executives familiar with the matter told ET.

External affairs minister S Jaishankar has defended India’s decision to buy Russian oil by emphasising that the government has a moral duty to provide the best deal for the country’s citizens.

The Cabinet on Wednesday approved a ₹50,000-crore increase in the limit for the Emergency Credit Line Guarantee Scheme (ECLGS) to ensure low-cost credit to hospitality and related segments hit hard by the Covid-19 pandemic.

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