Reliance Capital likely to share RFRP with bidder by Wed; all cash bids to get highest score
RCL had offered two options to all the bidders. Under the first option, companies could bid for Reliance Capital, including its eight subsidiaries or clusters. The second option gave the companies freedom to bid for its subsidiaries, individually or in a combination.
Banks putting more of surplus funds in commercial papers as rates riseCommercial papers (CPs) are shorter duration debt instruments generally issued by companies with maturities up to one year. One basis point is 0.01 percentage point.
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