Deutsche Bank's move to lay off employees across its global operations has seen an impact closer home. An unknown number of employees from its Bengaluru operations are known to have received pink slips. Deutsche Bank did not divulge details on the number of employees laid off, or whether operations had been affected post the layoffs.

Deutsche-Bank is planning to shutter the majority of its equities business in the Asia-Pacific region as-part-of a restructuring to be announced as-soon-as Sunday, a person with knowledge of the matter said. The Frankfurt-based lender expects to stop offering trading of cash-equities, equities research and may no-longer underwrite initial public-offerings in the region, person said, asking not to be identified as the matter is private.

The rupee might continue to appreciate against the dollar till the elections are over, as historical evidence shows that the currency generally tends to do well heading into an election quarter, according to a report by Deutsche Bank. But it might depreciate after that, it said. The rupee however might not be as volatile as it was last year.