'In the long run, India's strong growth story and reforms to make assets globally attractive will determine the rupee's resilience.'
The Indian rupee, swaying through multiple headwinds, tiding over global trade disruptions and massive foreign fund outlfows, is unlikely to arrest its descent until tariff impact overhangs, notwithstanding robust domestic macroeconomic tailwinds. The Reserve Bank of India (RBI), which sees the rupee's depreciation as a silver bullet to offset the tariff shock, expects the currency to find its stable course once India reaches a trade deal with its largest trading partner, the US.
Former Pakistan captain Younis Khan has expressed his disapproval of the substantial fine imposed on fast bowler Naseem Shah by the Pakistan Cricket Board (PCB) for his alleged social media comments against a political figure.
Global brokerage Bernstein has issued a cautionary note, stating that India risks 'under-delivering on its potential' unless it addresses key policy bottlenecks and structural risks, including employment challenges from AI, limited manufacturing gains, and rising welfare spending.
Indian stock markets tumbled sharply with the Sensex falling 800 points and nearly 4 lakh crore wiped out in a single session. Here are the 6 key factors, including rupee weakness and global cues, behind the crash.
West Bengal Chief Minister Mamata Banerjee and her nephew Abhishek Banerjee will hold a virtual meeting with TMC counting agents to prepare for the vote counting of the assembly elections.
Air India, IndiGo and SpiceJet have told the government that the country's airline industry is under extreme stress and on the verge of "stopping operations", as they sought revision in ATF pricing and financial support.
The Haryana government has dismissed an official from the Development and Panchayat Department in connection with a Rs 590 crore fraud case involving IDFC First Bank. The decision follows a detailed investigation that revealed a criminal conspiracy and substantial evidence against the official.
The Enforcement Directorate has attached assets worth 159 crore in connection with a money laundering investigation related to illegal coal mining in West Bengal. The case involves alleged pilferage and implicates various entities, including the political consultancy firm I-PAC.
The opposition BJP in Jharkhand has demanded the prompt payment of salaries to police personnel, which have been withheld following alleged irregularities in treasury funds across several districts. The police association claims that over 70,000 personnel have not received their salaries since March due to ongoing investigations into the matter.
Reserve Bank Governor Sanjay Malhotra on Friday said the central bank does not target any band for the rupee in the forex market, and allows the domestic currency to find its own correct level.
Indian benchmark indices Sensex and Nifty experienced declines due to a sharp rally in crude oil prices, continuous foreign fund outflows, and geopolitical uncertainties. Regulatory developments in the banking sector, particularly the implementation of the Expected Credit Loss (ECL) framework, also contributed to the selling pressure.
Police in Rajasthan have arrested 38 individuals involved in a nationwide cyber fraud network, unearthing scams worth over Rs 10 crore under 'Operation Mule Hunt'. The accused operated from various locations, including Dubai, and lured victims through investment, trading, and escort service schemes.
The Enforcement Directorate (ED) is investigating the use of foreign debit cards by a global Christian mission to withdraw crores of rupees in Naxal violence-hit regions of India. Searches were conducted in multiple states, and foreign debit cards, cash, and digital devices were seized.
Analysts predict that developments in West Asia and their impact on crude oil prices will heavily influence investor sentiment in the upcoming week. Global market trends, foreign investor activity, and rupee-dollar movement will also play a role.
"It is quite possible that the rates will remain low in the near to medium term, but that will depend on how conditions evolve," said RBI Governor Sanjay Malhotra.
Indian equity benchmark indices Sensex and Nifty tumbled over 1 per cent for the third consecutive day, driven by a sharp rally in crude oil prices, massive selling in IT stocks, and unabated foreign fund outflows amid ongoing geopolitical tensions in the Middle East.
A Mumbai sessions court has denied pre-arrest bail to two individuals accused of misappropriating funds and fraud within a residential society in Wadala, citing the necessity of custodial interrogation.
Union Minister Pankaj Chaudhary stated that Prime Minister Narendra Modi strengthened the Enforcement Directorate (ED) to combat financial crimes like money laundering and corruption, dismissing allegations of it being used to target political opponents.
The contraction in total reserves was driven by a fall in gold reserves, which dropped $13.49 billion to $117.19 billion during the reported week.
India's foreign exchange reserves have surged by $3.825 billion to reach $700.946 billion as of April 10, marking a significant milestone for the country's financial stability.
India's foreign exchange reserves decreased by USD 10.288 billion to USD 688.058 billion during the week ending March 27, according to the Reserve Bank of India (RBI). This decline follows a previous decrease and comes after the reserves reached an all-time high in February.
I wonder if I can rest assured -- before the election ink on my finger fades -- that my home state is at the threshold of a better future, wonders Vice Admiral Biswajit Dasgupta (retd).
Indian stock markets experienced a second consecutive day of losses, with the Sensex tumbling 852 points, as crude oil prices surpassed USD 100 per barrel due to stalled US-Iran negotiations and escalating geopolitical tensions in West Asia.
Union Minister Pankaj Chaudhary stated that Prime Minister Narendra Modi strengthened the Enforcement Directorate to combat financial crimes like money laundering and corruption, dismissing allegations of it being used to target political opponents.
Opposition parties in Jharkhand are demanding the release of salaries for police personnel, which have been withheld following the discovery of irregularities in treasury funds across several districts. The police association claims that over 70,000 personnel have not been paid since March, prompting calls for a thorough investigation and prompt action from the state government.
As the rupee remains under pressure due to several headwinds and the uncertainty around the India-US trade deal, the Reserve Bank of India (RBI) has been stepping in only to calm volatility, not to stop the fall.
Foreign investors have withdrawn over Rs 88,000 crore from Indian equities this month, driven by geopolitical tensions, a weak rupee, and concerns about rising crude oil prices.
Foreign investors have withdrawn a record Rs 1.14 lakh crore from Indian equities in March, driven by geopolitical tensions, a weakening rupee, and concerns about crude oil prices.
Importers are rushing to hedge their dollar positions amid the sharp depreciation of the rupee against the American currency and expectations of further volatility even as exporters are holding off after suffering mark-to-market (MTM) losses on earlier hedges.
Rahul Gandhi accuses Mamata Banerjee of not directly fighting the BJP, alleging that this indirect approach benefits the ruling party. He also criticised her government's performance on job creation and handling of corruption.
'Nepal today is far more aware, self-confident, aspirational, and assertive.' 'India's policy so far has not been geared to this shift. It is time to redraw our Nepal strategy.'
The rupee recovered 55 paise from its all-time low level to close at 90.38 against the US dollar after a volatile trade on Wednesday, amid suspected aggressive central bank intervention.
A Delhi court has remanded I-PAC co-founder Vinesh Chandel to the Enforcement Directorate's custody for 10 days in connection with a money laundering case involving alleged diversion of funds worth crores of rupees.
'... with the rest split between mid and smallcaps, as valuations are becoming more attractive across segments.'
Meerut police have uncovered a Goods and Services Tax (GST) fraud involving crores of rupees, leading to the arrest of one individual. The investigation revealed a network of fake firms used to illegally claim input tax credits, causing significant losses to the government.
The Enforcement Directorate (ED) has arrested I-PAC co-founder Vinesh Chandel in connection with a money laundering case linked to the coal scam probe in West Bengal, escalating tensions ahead of the state's Assembly elections.
Civil Aviation Minister Ram Mohan Naidu said the reduction in airport charges is aimed at containing airfare increases and supporting both airlines and passengers.
Rasikh Dar's four-wicket haul and Josh Hazlewood's return have bolstered Royal Challengers Bengaluru's bowling, powering them to the top of the IPL standings.
A foreign brokerage warns that sustained crude oil prices above USD 100 per barrel could push India's inflation above the RBI's tolerance level, potentially triggering interest rate hikes.
