The rupee depreciated further by 13 paise to hit a new life-time closing low of 82.30 against the US dollar on Friday as a firm American currency and risk-averse sentiment among investors weighed on the local unit. Moreover, a negative trend in domestic equities and elevated crude oil prices sapped investor appetite, forex traders said. At the interbank foreign exchange market, the local currency opened at 82.19, then fell further to 82.43. It finally settled at an all-time low of 82.30 against the American currency, registering a decline of 13 paise over its previous close.
Fitch Solutions sees RBI keeping benchmark interest rates unchanged during the fiscal to March 2022 following its decision to buy Rs 1 lakh crore of government bonds. "We had initially expected another policy rate cut to arrest the rise in government bond yields since the Union Budget announcement in February. "However, having an explicit bond purchase guidance from the RBI following the announcement of the G-SAP will also achieve a similar effect, if not even be more effective than a rate cut on capping the increase in bond yields," it said in a note. The Reserve Bank of India (RBI) held its policy repurchase (repo) rate unchanged at 4 per cent at its monetary policy meeting on April 7.
Experts disagree with the idea and the Reserve Bank of India (RBI), which has the sole right to print money, is not comfortable with it as well.
A month-long national lockdown to arrest the spread of COVID 2.0 could shave off 100-200 bps of GDP, leading to a 300 bps risk to annual growth, a brokerage report has flagged while expressing doubts over the ability of local lockdowns to control the pandemic. The second wave of the coronavirus inflection has caught the government off-guard with the daily cases jumping over 6.5 times in the past 30 days. With close to 3.53 lakh fresh daily infections, the country is the worst hit globally.
Dr Smita Naram, co-founder of Ayushakti, explains how fruits like apples, guavas and cherries can help manage blood sugar levels.
'China need not worry about a truly 'resurgent India'.' 'It's not going to happen.'
Monetary Policy Committee keeps key interest rate (repo) unchanged at 4% for 7th consecutive time; Consequently, reverse repo rate too remains unchanged at 3.35%; Bank rate also remains same at 4.25%;
Images from Day 1 of the first Test between India and England, at the M A Chidambaram stadium, in Chennai, on Friday.
His greatness is undisputed but probably has not been appreciated enough over the past two decades. Manika Batra had pushed the sport into spotlight with her four medal showing in Gold Coast four years ago and Sharath hopes his performances leads to millions of kids playing the game.
Concerned over inflationary pressures in the economy, the Reserve Bank of India (RBI) is bringing down surplus liquidity in the system rapidly. It has fallen to pre-Covid levels and almost 2 per cent of banks' net demand and time liabilities (NDTL). NDTL shows the difference between the sum of demand and time liabilities (deposits) of a bank (with the public or the other bank) and the deposits in the form of assets held by the other bank.
The Tatas have the know-how to quickly close deals which can otherwise get caught in legal wrangle. In 2018, on the day the National Company Law Tribunal declared Tata Steel as the winner of the bid for bankrupt Bhushan Steel, Bhushan promoter Neeraj Singhal was planning to file for a stay order. He did get the case listed for the following day, but the judge did not admit it, deferring it until the following week. The Tatas used the narrow window of 48 hours to close the deal and take control of the company.
India has emerged as a favoured location for captive technology units of Walmart, Lowes and Daimler.
"The biggest thing, American citizens feel proud of is the people of Indian origin," the Prime Minister said.
Ex-mill sugar prices have remained steady in the range of Rs 3,250-3,350 per quintal in north India and at Rs 3,100-3,250 per quintal in the south India.
The $4.6-billion company, which had earlier made an unsuccessful bid to acquire SAP consulting firm Axon that was latter acquired by HCL, would prefer acquiring companies overseas where growing organically is a little challenge, the Bangalore-headquartered company's CEO and MD S (Kris) Gopalakrishna said.
Harsh Mankad and Prakash Amritraj won the reverse singles to help India beat Uzbekistan 5-0 and qualify for the World Group Playoffs
On Saturday, Sen had become only the fifth Indian after Prakash Nath (1947), Prakash Padukone (1980, 1981), Pullela Gopichand (2001) and Saina Nehwal (2015) to reach the final of the prestigious tournament after outwitting defending champion Lee Zii Jia in a gruelling semi-final.
Images from day eleven of the 2010 Asian Games in Guangzhou, on Monday
Replacing refined sugar with dates, honey, stevia can help you stay healthy.
A dogged Somdev Devvarman scripted a spectacular win over South Africa's Rik De Voest in a high-voltage marathon five-setter to clear India's passage into the elite Davis Cup World Group after a long wait of 11 years in Johannesburg, on Sunday. Tenacity of Somdev and Voest engineered a prodigious tennis game which the Indian won 3-6, 6-7(3), 7-6(5), 6-2, 6-4.
Pakistan has sent extra troops to its border with India due to rising tensions, the country's high commissioner to the United Kingdom Wajid Shamsul Hasan has said, adding Islamabad had been 'unsettled' by pressure on its eastern border.
New Zealand batsmen showed clinical efficiency in a tricky chase to spoil Virat Kohli's milestone match with a comfortable six-wicket victory over India in the opening One-Day International, in Mumbai on Sunday.
India retained their place in the Asia/Oceania Group I in the Fed Cup after beating Chinese Taipei 2-0 in the relegation Play-off in New Delhi on Saturday.
While the first wave of moving work to India was driven by cost considerations, increasingly companies are banking on local talent to add value to their business by jointly developing products and solutions.
For nearly an hour on Monday, Prime Minister Narendra Modi sought to reach out to the Indian community to share his vision for the country at the SAP Arena in San Jose, California.
Former India captain Shantha Rangaswamy said that Mithali Raj took the right decision by retiring from T20 Internationals as it will help her focus more on the 2021 ODI World Cup.
'No one realises that people with 90 days waiting period are shopping around which naturally increases the cost of hiring.'
For almost 60-minutes, Prime Minister Narendra Modi spoke extempore at the SAP Center in San Jose and he left a crowd of 18,500 in awe.
Conversation between the investors will be based on technology and innovation.
In a bizarre turn of events, India 'A' will replace South Africa 'A' in Monday's tri-series match against Australia 'A' after six of the cricketers were left indisposed owing to the sapping Chennai heat and stomach ailments.
Defending champion PV Sindhu suffered a straight-game defeat to Tai Tzu Ying while Srikanth assured himself of a medal.
Kidambi Srikanth created history as he became the first Indian man to enter the World Badminton Championships final after edging compatriot Lakshya Sen in a thrilling semi-final, in Huelva, Spain on Saturday. Srikanth rallied after losing
'A strong foreign exchange reserve is the best safety net against global spillovers.'
ICICI Bank was the top gainer in the Sensex pack, rising over 3 per cent, followed by ITC, SBI, HCL Tech, Axis Bank, Bajaj Finserv and Tech Mahindra. NSE Nifty advanced 32 points to 15,856.05.
Once a limited-overs giant, Yuvraj Singh has been in and out of the Indian team in recent years but the all-rounder believes he still has enough cricket in him to look forward to the 2019 World Cup in England and Wales.
Modi congratulated the Indian Americans.
Business executives are finally dusting off their long-unused suitcases to resume travel, thanks to a good vaccination rate, a drop in fresh cases, and an easing of travel restrictions. It comes as a huge relief for the ravaged aviation, travel and hospitality sectors. "We are witnessing a 40 per cent recovery on pre-covid volumes from our business travellers, signalling the return of corporate confidence in air travel," said Indiver Rastogi, president & group head, Global Business Travel, Thomas Cook (India) & SOTC.
USAID looks forward to working with each to make financial inclusion a long-lasting and sustainable reality in India.
The organisers of Modi's Silicon Valley event will have only a few hours to get the stage ready after the Shark Tanks' ice hockey game at the SAP Centre ends.
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