Rupee surges on RBI measures

July 16, 2013

RBI_measuresMumbai, Jul 16: The rupee on Tuesday gained a hefty 64 paise to 59.25 in early trade at the Interbank Foreign Exchange market on fresh dollar selling by exporters after the RBI announced a slew of measures to stem the local currency’s volatility.

Forex dealers said measures announced by the RBI on Monday night, including hiking the lending rates for banks and sucking up of Rs. 12,000 crore to stem the continuing fall of rupee, supported the local currency.

Under the measures announced, RBI raised lending rates to commercial banks by 2 per cent to 10.25 per cent making the loans costlier.

The rupee had lost 33 paise, the most in a week, to close at 59.89 against the dollar on Monday on fresh demand from banks and importers amid disappointing industrial production, a fall in exports and higher inflation.

Meanwhile, the BSE benchmark index Sensex plunged by 368.91 points, or 1.84 per cent, to 19,665.57 in early trade on Tuesday.

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News Network
February 1,2020

New Delhi, Feb 1: Prime Minister Narendra Modi on Saturday greeted the Indian Coast Guard on its raising day, appreciating its efforts to keep the country's coasts safe.

The Coast Guard came into being in 1977.

"Greetings to the Indian Coast Guard on their foundation day. Our Coast Guard has made a mark due to their remarkable efforts to keep our coasts safe," Modi tweeted.

The prime minister said the force's "concern towards the marine ecosystem is also noteworthy".

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Agencies
June 21,2020

New Delhi, June 21: The world is feeling the need for yoga more than ever due to the coronavirus pandemic and the ancient Indian practice is helping a large number of Covid-19 patients across the globe in defeating the disease, Prime Minister Narendra Modi said on Sunday.

The coronavirus specifically attacks the respiratory system and 'pranayama' or breathing exercise helps in strengthening the respiratory system the most, Modi said in his message on the sixth International Day of Yoga.

Modi said yoga has emerged as a force for unity and it does not discriminate as it goes beyond race, colour, gender, faith and nations.

"Yoga enhances our quest for a healthier planet. It has emerged as a force for unity and deepens the bonds of humanity. It does not discriminate. It goes beyond race, colour, gender, faith and nations. Anybody can embrace Yog," the prime minister said.

In his nearly 15-minute address early Sunday morning, Modi said that due to the coronavirus pandemic, the world is feeling the need for yoga more than ever.

"If our immunity is strong, it is of great help in defeating this disease. For boosting immunity, there are several methods in yoga, various 'asanas' are there. These asanas are such that they increase the strength of the body and also strengthen our metabolism," he said.

Talking about the benefits of 'pranayama' -- a form of breathing exercise, Modi said it is very effective and has countless variations like 'Sheetali, Kapalbhati and Bhrastika'.

"All these forms of yoga, help a lot in strengthening both our respiratory and immune system," he said, urging people to include 'pranayama' in their daily routine.

"A large number of Covid-19 patients all over the world are taking the benefits of all these techniques of yoga. The strength of yoga is helping them defeat this disease," Modi said.

Asserting that anybody can embrace yoga, the prime minister said that all that is needed is some part of one's time and an empty space.

"Yoga is giving us not only the physical strength, but also mental balance and emotional stability to confidently negotiate the challenges before us," Modi said.

"If we can fine-tune our chords of health and hope, the day is not far away when world will witness the success of a healthy and happy humanity. Yoga can definitely help us make this happen," he said.

With the shadow of the COVID-19 pandemic looming large, International Day of Yoga is being marked on digital media platforms sans mass gatherings. This year's theme is 'Yoga at Home and Yoga with Family'.

Yoga Day is going digital for the first time since June 21, 2015, when it began to be celebrated annually across the world, coinciding with the Summer Solstice each year.

On December 11, 2014, the United Nations General Assembly declared June 21 as 'International Day of Yoga', months after Prime Minister Modi had proposed the idea.

The Ministry of Ayurveda, Yoga & Naturopathy, Unani, Siddha and Homoeopathy (AYUSH) had planned to hold a grand event in Leh, but cancelled it due to the pandemic.

In his message on Sunday, Modi said the International Yoga Day is a day of unity and gives the message of universal brotherhood.

"It is a day of oneness and humanness. What brings us together, unites us, that is yoga. What bridges distances is yoga. In times of this coronavirus pandemic, people's participation in the 'My Life - My Yoga' across the world shows that people's interest in yoga is increasing," he said.

He said that doing work properly and fulfilling one's duties is also a form of yoga.

"Eating the right food, playing the right sports, having right habits of sleeping and waking, and doing your work and your duties is yoga," Modi said.

"With this 'karmayoga', we get the solution to all the problems. 'Karmayoga' is also helping others selflessly. This spirit of 'karmayoga' is embedded in the spirit of India. Whenever the need arose, the whole world witnessed India's selflessness," he said.

The power as an individual, society and country increases manifold when people act according to yoga and with the spirit of 'karmayoga', Modi said.

"Today we have to take a pledge in this spirit -- we will do everything possible for our health, for the health of our loved ones. As a conscious citizen, we will move forward unitedly as a family and society," he said.

The PM's message was followed by a live demonstration of Common Yoga Protocol (CYP). The CYP drill was designed keeping in mind people of different age groups and of varied walks of life, the ministry had said in its statement.

Yoga programmes are organised across the globe by Indian missions every year, but this year will be different. Several missions are organising digital events to mark the occasion.

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News Network
January 28,2020

New Delhi, Jan 28: Kolkata Metro Rail Corp expects to complete its East-West project, which runs partly under the city’s iconic Hooghly river, by March 2022 after a delay of several years doubled costs.

The authority is awaiting a final installment of Rs 20 crore ($2.8 million) over the next two years from the Indian Railway Board, said Manas Sarkar, managing director at KMRC. A soft loan of Rs 4,160 crore from Japan International Cooperation Agency helps fund 48.5% of the project.

India’s oldest metro, which started in 1984 with a North-South service, was due to expand by 2014 but faced problems including squatters on the planned route. These issues have contributed to the total project cost rising to about Rs 8,600 crore for some 17 kilometers from Rs 4,900 crore for 14 km.

“About 40% of total transport demand will be tackled by these two metro services,” Sarkar said in an interview at his office in Kolkata. “It will be a relief for environmental pollution and the city should be much more decongested.”

The new line is expected to carry about 900,000 people daily, -- roughly 20% of the city’s population -- and will take less than a minute to cross a 520-meter underwater tunnel. Depending on the time of day, it takes some 20 minutes to use the ferry and anywhere upward of an hour to cross the Howrah bridge.

KMRC will repay the JICA loan over 30 years after an initial six-year moratorium. The interest rate is between 1.2% to 1.6%. The East-West metro project is 74% owned by the railway ministry and 26% by the ministry of housing and urban affairs.

“We don’t anticipate any further cost escalation now,” Sarkar said.

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