Among the 30 Sensex companies, Larsen & Toubro, Power Grid, NTPC, State Bank of India, Reliance Industries and HDFC Bank were the biggest laggards. Sun Pharma and Nestle were the only gainers.
At a time when the market is betting on a 'higher for longer' global interest rate view, Accenture's (ACN) weak revenue forecast is a negative read-through for the Indian IT firms, according to analysts. The Dublin-based company sees its revenue growth at 2-5 per cent in constant currency (cc) for the financial year 2024 (FY24), below the pre-Covid levels of 5-8 per cent for FY17-20. The weak projection, thus, signals that slower demand is likely to persist this year, and any recovery is unlikely in the near-to-medium term, experts note.
'Young working adults between 25 and 34, who are in Indian Tier II and III cities, are leading the charge in terms of crypto adoption.'
Some of the money used to finance the terror attacks in Mumbai last November and the Indian Institute of Science in Bengaluru in December 2005 came via a fake currency racket, sources from the Intelligence Bureau and Central Bureau of Investigation have revealed.
Let's take a look at the performance of some of the major currencies around the world.
When I asked Krishna Gopal Sengupta, who had travelled through Bangladesh from Chittagong to Petrapole if the interim government had made any impact at ground level, he said, "it's been only a couple of days. They will need some time." Shyam G Menon reports from Petrapole, India's entry point with Bangladesh.
'Except that the population was much less.' 'I remember my uncle and family moving away from the base of a hill whenever it rained for more than a couple of days without a dry day in between.' 'Perhaps the older generations knew if it rained for more than a certain time, they must pack up to a camp or to a relative.' 'As some of the interviews of the survivors on the Malayalam television channels show, the elderly people had a premonition a tragedy would happen, and those who acted on those premonitions survived.'
The online world is filled with love gurus promising to teach "how to woo someone in minutes", unlike those who talk about the need to do the self-work.
Events proved that on every count the RBI had accurately predicted both the damage and the lack of benefit. What the RBI was hiding was the fact that Modi had ignored its concerns -- all of which turned out to be true -- and gone ahead anyway, asserts Aakar Patel.
The Reserve Bank of India has set up an expert working group for examining issues related to the launch of currency futures in the country.
With digital adoption fast gaining currency, India is likely to see retail digital payments double to $7 trillion by 2030 from current levels, a study by Kearney and Amazon Pay said. In the report 'How Urban India Pays', Kearney-Amazon Pay said strong adoption of digital payments in online purchases has potentially led to a permanent shift in consumer behaviours, fuelling offline adoption as well.
The quantum of fake Swiss francs remained much higher.
Even though the NIA claims that more than 90 per cent of cases charge-sheeted have ended in conviction, the figure is likely misleading. To date, very few cases investigated by the NIA have resulted in a completed trial, points out former CBI joint director Navneet Rajan Wasan.
Sir Osborne Smith was the first governor of the Reserve Bank, serving from April 1, 1935, to June 30, 1937.
According to analysts, IT firms like Infosys, TCS and HCL Technologies are likely to benefit the most on account of larger US exposures and dollar billing.
The ATS, in a brief note, said the four accused, who were arrested from the airport, were Sri Lankan citizens and terrorists of the Islamic State.
SEBI chairman C B Bhave on Friday said the market watchdog is planning to introduce more currency derivatives products, beginning with options, to give a wider choice to investors.
Mongolia can take a lifetime to happen but rewards the intrepid traveller with enduring memories of a surreal, delightful land.
The Centre is unlikely to offer new direct tax incentives for units operating in special economic zones (SEZs) and may instead allow the grandfathering of previous exemptions that such units were entitled to, according to proposed amendments to the SEZ Act, 2005, people aware of the matter said. The amendments, proposed by the commerce department, will soon be considered by the Cabinet for approval. This represents a departure from the department's earlier plan to introduce these changes through the Development Enterprises and Services Hubs (DESH) Bill, 2023, which faced strong criticism from the ministry of finance.
The Reserve Bank on Friday raised the interest rate ceiling on NRI deposits in foreign currencies by up to 3 per cent, To attract inflows in view of falling rupee.
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Chests are select branches of banks authorised by RBI for distribution of notes and coins.
The bourse has received approval from the capital market regulator Securities and Exchange Board of Indian and the RBI for introducing exchange traded currency options on dollar Indian rupee spot rate, NSE said.
'I request the embassy to evacuate me from here, provide me facilities like a wheelchair, help me with documentation'
Fake Indian currency notes are being used by Pakistan-based terror groups for financing their activities in India, the Lok Sabha was informed on Monday.
The interchange fee -- paid by the card-issuing bank when a customer swipes at another bank's ATM, including at white-label ATMs -- may be raised to Rs 20 to Rs 23.
An Indian Mujahideen terrorist, suspected to be involved in the German Bakery blast of Pune in 2010, has been arrested from Kolkata, the police said.
The impact of currency depreciation can also be mitigated by holding a portion of your investment portfolio in dollar-denominated assets.
Central bank raises red flag, warns of potential risk
The Reserve Bank of India on Thursday allowed Non-Resident Indians to hedge currency risk for external commercial borrowings (ECBs) denominated in rupees with Indian banks.
IT service company Wipro on Friday reported 7.8 per cent year-on-year decline in its consolidated net profit for the March quarter to about Rs 2834.6 crore, and cautioned that the macroeconomic environment remains "uncertain". The Bengaluru-headquartered company, which recently saw a change of guard with Srinivas Pallia taking over at the helm as the new chief executive officer, has given an IT Services revenue growth guidance in the (-)1.5 per cent to +0.5 per cent band for June quarter on a constant currency basis.
Indian engineering research and development (ER&D) players, such as Tata Technologies, Tata Elxsi, and Cyient, among others, had a subdued January-March quarter of 2023-24. The outlook for 2024-25 (FY25) also remains unexciting amid weak discretionary spending, prompting analysts to revise their growth expectations for the ongoing financial year (FY25).
'China is struggling to get out of its property bubble.' 'Japan took 35 years to walk out of its equity bubble.' 'Bubbles can be difficult to forecast.'
After Bandhan MF's US Treasury Bond 0-1 year Fund of Fund (FoF), Aditya Birla Sun Life (ABSL) MF has come out with US Treasury 1-3 Year Bond ETFs FoF and 3-10 Year Bond ETFs FoF. US bonds, which generally offer low yields, have turned attractive post the 525-basis point hike in US interest rates. According to Bloomberg data, the 1-year and 2-year US treasury yields now stand at 5.4 per cent and 5.1 per cent, respectively. Although the yields remain lower than what Indian government bonds offer, the differential has come down steeply.
According to these documents, unsealed after Chicago Tribune petitioned before the court, Major Iqbal, said to be an ISI officer, also gave him Indian currency notes for his operation in India.
Entering Iran may lead to trouble for those having significant presence in the US market.
The couple stayed in a Hotel in the month of March this year and booked the room under fake names, the owner of the hotel confirmed.
The amount of money Indians invested in foreign securities, property, and deposits in 2022 was likely the highest on record. At $2.1 billion, it was the largest spend for any 12-month period according to the Reserve Bank of India's (RBI's) data going back over a decade. The amount spent for each individual segment was also the highest.
The panic selling that was seen across global equity markets (including India) during the previous week was a fallout of the Federal Reserve's view that US interest rates are in for a faster rise going forward. \n\n
While all the four countries have seen a sharp rise in their currencies against the US dollar, the pace of rupee appreciation is only next to the Brazilian real since the beginning of this year.
As exporters started complaining about adverse effects of rising value of the rupee against the dollar, the government on Thursday said appreciating Indian currency reflects strength of the economy and it cannot do much so long as the unit rises and falls in a range.
