News digest: Rupee recovers, Videocon loan issue, Fortis-IHH deal, and more

From the end of March 2018 to August 3, India's foreign exchange reserves were down by $21.84 billion to $402.70 billion

Rupee recovers after breaching 70 a dollar

The rupee recovered after touching an all-time low of 70.08 against the US dollar amid intense pressure on emerging market currencies, triggered by a financial crisis in Turkey, including the rout of its currency, lira. The rupee closed at Rs 69.89 on Tuesday. Read more

ICICI Bank explores consent option

ICICI Bank has intensified efforts to settle the alleged conflict of interest issue involving Managing Director and Chief Executive Officer Chanda Kochhar with the Securities and Exchange Board of India (Sebi). Read more

JSW makes highest bid for Bhushan Power  

Sajjan Jindal-controlled JSW Steel has made the highest bid for Bhushan Power and Steel in the second round of bidding. JSW's revised offer stands at Rs 193.5 billion, up from Rs 110 billion submitted in February. Read more

Shareholders approve IHH takeover of Fortis 
 

Fortis’ shareholders on Tuesday voted in favour of Malaysia's IHH Healthcare picking up a stake in the cash-strapped hospital chain. Around 99 per cent of the shareholders voted in favour of the deal. Read more