Top headlines: Axis Bank profit doubles, wind energy looks for second wind

Axis Bank on Monday said its net profit nearly doubled to Rs 4,125 crore in the April-June quarter of FY23, helped by decline in bad loans. India’s central bank may be pivoting to the spot market from forwards in its attempts to shield the rupee from fresh record lows -- in order to minimize the knock-on effects of its intervention strategy. Reserve Bank of India’s foreign-exchange reserves have fallen by about $30 billion since the end of May to $573 billion, according to its data