The rupee had plunged 65 paise in its biggest single-day drop in over six months to end at 61.49 in Wednesday's trade against the greenback, hit by spike in dollar demand and negative cues from local stocks.
However, the Indian capital markets regulator rejected the claim saying it neither received any such request, nor provided any such information to the concerned department in Antigua.
Analysts say loan growth, Casa ratio and exposure to sectors under pressure did not indicate any stress at United Bank.
Nirav Modi, along with his wife Ami Modi, a US citizen, brother Nishal Modi, a Belgian citizen, and uncle Mehul Choksi, all accused in the CBI's FIRs in the case, left the country in the first week of January, weeks before country's biggest banking scam surfaced.
Chinese President Xi Jinping, who made a rare visit this week to the restive Xinjiang region which borders Ladakh, met the troops and officers stationed there and praised their "outstanding contributions" to the border defence and stabilisation of the volatile province.
Mundra fills the vacancy created by the retirement of KC Chakrabarty in April, two months before his five-year tenure was come to an end.
IndusInd Bank, Kotak Bank, ICICI Bank, Sun Pharma, Bajaj Finance and Ultratech Cement were prominent gainers. NSE Nifty rose 176.65 points to 14,867.35.
Rush to offload bad loans indicates a revival in asset-sale market
Increased selling of the dollar by banks and exporters amid sustained foreign capital inflows supported the rupee.
The sad truth is that the debt-to-GDP ratio will shoot up close to 90 per cent in the coming year, and the fiscal deficit glide path does not promise to reduce it substantially any time soon, predicts Mihir S Sharma.
The finance minister has emphasised on the quick disbursal of additional loans to MSMEs, to simplify process, formats and documentation.
Both Purvi Deepak Modi and Neeshal Modi are accused in the $2-billion scam allegedly orchestrated by their elder brother Nirav Modi and uncle Mehul Choksi in Punjab National Bank, they said.
The governance reforms, as an official put it, would bring in measures to track the performance of the executive-rank employees of the banks, intensively.
Bankers have been criticised for not passing the benefits of rate cuts
Soon after unveiling of the Reserve Bank's mid-quarter policy review, country's largest lender State Bank of India on Friday said lending and deposit rates will go up in view of the festive season demand.
A higher opening in the domestic equity market also supported the rupee but dollar's gain against other currencies overseas limited the rise of domestic unit, forex dealers said.
The RBI, which has been keeping rates at an elevated level citing the high inflation, wants to bring it down to 6 per cent by January 2016.
The country's top private sector lender, ICICI Bank, made its entry into the list of the top 10 most valuable companies by market capitalisation this week, helped by a sharp rise in banking stocks.
His brother Nishal, a Belgian citizen, also left the country on January 1, while wife Ami, a US citizen, and business partner Mehul Choksi, the Indian promoter of Gitanjali jewellery chain, departed on January 6, the officials said.
Force India finished sixth in 2014 but spent much of last season calling for cost cuts.
Traders expect the rupee to remain wedged between the 59.60 and 60.50 levels in the absence of any key triggers in the near-term.
Progress on the steps taken by Governor Shaktikanta Das' predecessor Urjit Patel to restore financial system integrity will be a key thing to assess any damage to the institution, Subramanian said.
The domestic currency had lost 49 paise to close at a three-month low of 60.55 on Thursday on capital outflows after the US Fed trimmed its monthly bond buying programme by another $10 billion.
The rupee on Thursday surged by 22 paise to close at a fresh three-week high of 61.75 against the US currency.
Investors are sceptical that the economy could have picked up so much steam.
Forex dealers said besides increased dollar selling by exporters, strength in other currencies against the American currency overseas also supported the rupee but a lower opening of the domestic equity market capped the gains.
In New York market, the dollar fell further against the euro yesterday after minutes from the Federal Reserve's March meeting detailed risks that could keep interest rates depressed even after the first rate hike.
The cost of holding one-year forward dollars rose to 482.75 basis points from 472.75 bps on Tuesday.
Governor Rajan can be more unambiguously pro-growth.
The rupee had gained five paise to close at 63.25 against the dollar in on Monday's trade on fresh selling of the US currency by exporters amid bullish stocks.
RBI's foreign exchange reserves fell $237.5 million.
Finance Minister Nirmala Sitharaman on Thursday said that fugitive businessmen Vijaya Mallya, Nirav Modi and Mehul Choksi are "coming back" to India" to face the law.
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The rupee has avoided the heavy losses suffered by some emerging Asian currencies such as the Philippine peso this year because of its efforts to narrow the current account deficit, and strong foreign investor inflows.
The domestic currency spurted by 425 paise or 6.28 per cent in last five straight sessions.
Women employees of SBI can now take two-year sabbatical leave from work for purposes like children's education.
The dollar's weakness against other currencies overseas and a higher opening in the domestic equity market supported the rupee, forex dealers said.
The RBI stipulated on Thursday that foreign institutional investors would require a mandate from participatory note holders to hedge on their behalf.
Union Bank of India, United Bank of India reduced base rates.
Police in Dominica captured Choksi on Tuesday night (local time) after an Interpol Yellow Notice was issued by Antigua and Barbuda.
In New York market, the dollar fell against the Japanese yen yesterday, taking cues from declines in US stocks.
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