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RBI Tightens Overseas Investment Scrutiny Amid Rupee Pressure
The Reserve Bank of India (RBI) has asked major financial institutions to provide more details on overseas deals worth over $1 billion due to the weakening Indian rupee. The move comes in response to the rupee's decline of more than 5% this year, with banks required to review overseas investments, acquisition costs, and share-swap deals, among other details. The RBI is also assessing a company's earnings, financial commitments, and ability to handle financial risks.