'It is time to allow the rupee to move towards its true value, as it is hurting Indian exports, investment and SMEs associated with export sectors that create jobs,' argues Pravakar Sahoo.
The view among the regulator and the government is that the currency is overvalued
Analysts predict TCS's outlook to be stable.
State Bank of India has received the permission from the Chinese Government to lend in the local currency -Yuan, a top official said on Thursday
Non-Resident Indians and Indian nationals abroad can deposit up to Rs 25,000 of the demonetised currency during the 3-6 month grace period, but only if they show the junked notes to Customs officials at the airport and get a declaration form stamped.
Brent crude prices fell to $57 a barrel on Monday from $62 a barrel.
Given the stability of the rupee over the last 10 months, many companies have been tempted not to hedge their foreign currency risk.
The Bengaluru-based firm's revenue grew 17.3 per cent to Rs 20,609 crore in the quarter under review as compared to Rs 17,567 crore in the same period of 2017-18
The county's largest IT company TCS on Friday reported a 7.2 per cent jump in December quarter net to Rs 8,701 crore on a consolidated basis, and seemed to suggest the worst is behind by projecting double-digit revenue growth for FY22. The company, a cash cow for Tata Sons, saw a 5.4 per cent growth in revenue at Rs 42,015 crore for the quarter. Operating profit margin came in at 26.6 per cent despite implementing wage hikes, after consistently missing the 26-28 per cent aspirational band for many quarters.
Bitcoin has been on fire ever since Musk announced that Tesla had bought $1.5 billion of the cryptocurrency, and that his electric-vehicle company would accept bitcoin from buyers.
An NBFC must actively manage its collateral positions, differentiating between encumbered and unencumbered assets, and monitor such assets so that they can be mobilised in a timely manner, central bank says in circular.
The short-term risk to our external balances stems from the yellow metal.
Another negative surprise in HCL's numbers was the decline in the margin by 40 basis points to 21.4 per cent.
Will retirement bedim the sparkle of Captain Cool, asks ad guru Sandeep Goyal?
'Corruption is the tree.' 'Black money is the fruit from the tree.' 'This scheme will expose the unaccounted fruits of the tree.' 'But since the tree will continue to stand, the story will continue,' say Pramod Kumar Srivastava, Sanghamithra and Kravya.
The rupee had depreciated by 39 paise, logging its biggest daily loss in nearly two months, to end at 61.34 on Thursday on fears of capital outflows from emerging markets after Federal Reserve signalled a sooner-than-expected hike in US benchmark interest rates.
The theory that all banned notes will come back into the system may not be true. Anup Roy finds out.
T K S Elangovan has alleged senior bank officials forged documents and faked authorisation from the RBI, to transport huge sums of hawala money during recent elections in the state.
Since mid-July, the RBI has taken steps to tighten cash conditions, which have failed to support the rupee but sent bond yields surging, posing a fresh threat to the already cooling economy.
The rupee largely shrugged off the high volatility in stocks and rebounded sharply towards the fag-end trade following bout of dollar selling by exporters
The RBI fell short of pumping Rs 150 billion into the economy at the beginning of 2018-2019.
Debroy, in an interview with India TV news anchor Karan Thapar, said there would be no shortage of currency notes and the demonetisation exercise was justified -- it would be a deterrent for future generations.
The box had apparently been lying since February 23 after the employee of the cash replenishing agency forgot it outside the ATM, he said.
Across Yes Bank branches, the busiest people were the relationship managers, trying to soothe nerves. Many were seen advising clients the situation was only temporary and that their money was safe.
Amendments will be tabled in Parliament for approval by Monday or Tuesday.
Sources say that there has been a lot of difference between the fake currency that used to be printed a year ago and what is available now, following the leak of the design. Investigations have revealed that the design may have been compromised through a D-company link, which is completely in charge of circulating fake currency in India.
According to reports, Vodafone NZ had offered all its employees, other than call centre and retail staffers, voluntary severance package
Use of blockchain technology will ensure that banks will not be blindsided like in the case of the Nirav Modi-Mehul Choksi blowout at PNB, says Raghu Mohan.
A rising rupee is a tailwind for dollar investors.
A BSF official said a night patrol party of the force spotted the three entering Indian territory and asked them to surrender.
Taxi driver Balwinder Singh was left stunned and speechless when he found out on November 4 that Rs 98,05,95,12,231 had been credited to his State Bank of Patiala account.
Seasonal weakness may result in modest sequential revenue growth for large Indian IT firms in the January-March 2016 quarter, analysts said.
However, the IT firms will get some benefits, as software exports from their Chinese campuses will yield more in local currency
The 41- year old is currently the head of macro trading in Goldman's Securities Division.
'Our network somehow saves 3,000 lives every year, but there's so much more to do, as every death due to shortage of blood is easily avoidable.'
Yes Bank was the biggest gainer in the Sensex pack, rallying 11.48 per cent amid reports that private equity firms have showed interest in buying a major stake in the private sector lender.
"I am an academic and I have always made it clear that my ultimate home is in the realm of ideas," Rajan said in a letter to staff.
According to ICRA, even in a high-growth scenario, wherein the second half of FY20 sees the incremental bank credit rise to Rs 6.5-7 trn, there will still be a 40-45% year-on-year decline.
Hindustan Unilever reported good numbers for the fourth quarter and for 2011-12, despite commodity inflation and currency fluctuations.
