Finance Minister Jaitley said that the government, along with the RBI is bringing out the mops to clean the NPAs in India's banking system. The NPA problem, the FM said, is "confined to at best 50 companies", and added that the government is looking at different ways to resolve those accounts, and also introduce oversight committees to address the problem going forward.

While Uber had said early last year that India was a major target market for the company, it has in recent months cut incentives for drivers and increased its customer fares, which has resulted in lower earnings and many Uber drivers returning the cars leased from Uber and leaving the program. This is compelling Uber to review its car leasing mechanism in India - an approach that worked elsewhere, but doesn't seem to have enough traction in the Indian market.

Stock in spotlight: Dewan Housing Finance, whose Q3 results and focus on affordable housing and smaller cities has pushed up the share price of this stock, particularly post the budget and a renewed focus on mass housing.

Photo of the day: As summer builds up in Delhi, some people keep earthen pots outside their houses for thirsty passers-by. A street vendor picks up a cup to drink water. Tsering Topgyal/AP