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Rupee at all-time low, falls to 62.46 per dollar; sensex falls 225 points

August 19, 2013

Rupee_at_all-time_lowMumbai, Aug 19: The rupee dropped to a record low of 62.46 per dollar in late morning trade on Monday on persistent demand for the US currency from banks and importers coupled with capital outflows from foreign funds.

A firm US currency in the overseas market also affected the rupee value against the dollar, a forex dealer said.

The rupee resumed lower at 62.30 per dollar as against the last weekend's level of 61.65 at the Interbank Foreign Exchange (forex) Market and dropped further to a new record low of 62.45.

However, it recovered to 62.21 before quoting at 62.34 per dollar at 1045 hours.

It showed a loss of 69 paise, or 1.12 per cent, from its last close.

The US dollar edged modestly higher in the early trade ahead of key Federal Reserve events this week that may offer more signals about when policy makers will begin tapering monetary stimulus.

Sensex tumbled by 225 points

Meanwhile BSE benchmark sensex tumbled by 225 points in late morning trade today on persistent selling pressure in banking, capital goods, auto, PSU and realty sectors triggered by further depreciation of rupee against the dollar.

The rupee hit a record low of 62.45 per dollar in the late morning deals today.

Foreign capital outflows continued to affect the market sentiment. Foreign institutional investors (FIIs) sold shares worth a net Rs 563.23 crore last Friday, as per provisional data from the stock exchanges.

The BSE-30 share index Sensex resumed lower at 18,587.38 points and dropped further to a low of 18,303.20 before quoting 18,373.17 at 1040 hours.

It showed a loss of 225.01 points or 1.21 per cent from its last weekend's level.

The NSE 50-share barometer Nifty also fell by 86 points, or 1.56 per cent, to 5,421.85 at 1040 hours.

Major losers were - M&M (4.94 pc), Bajaj Auto (4.63 pc), ICICI Bank (3.74 pc), Bharti Airtel (3.62 pc), Hero Motocorp (3.12 pc) and L&T (2.11 pc).

Most Asian stocks fell for a third straight day as worries about the Federal Reserve's policy outlook and rising US Treasury yields weighed on sentiment.

Key benchmark indices in Hong Kong, China, South Korea and Taiwan were down by 0.08 to 3.79 per cent, while indices in Japan and Singapore rose by 0.02 to 0.35 per cent, respectively.

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News Network
February 28,2020

Hyderabad, Feb 28: The Cyber Crime Police of Hyderabad has registered an FIR against social media platforms- WhatsApp, Twitter and TikTok- for allowing people to spread anti-national activities, as per a complaint filed by one S Srishailam.

Raghuveer, Additional DCP Cyber Crimes said," We have received a court referred complaint, which was filed by S Srisailam in the concerned court stating that social media platforms Whatsapp, Twitter and TikTok are allowing few people to spread anti-national activities and videos."

S Srisailam also claimed that a few people are running a campaign against the CAA on social media platforms to spread hatred which in turn is causing damage to national integrity.

"In this regard, because the complaint was referred by a court a case has been registered against Whatsapp, Twitter & TikTok under the relevant section of Indian Penal Code and IT Act and took up the investigation," the DCP added.

He also added that the police cannot take action against these platforms as they are not banned in India but can initiate action against persons who intentionally indulge in spreading hatred.

"The police are conducting the investigation and if allegations of the complainant are found to be false then we will drop the case. We had received the case one week ago," informed the DCP.

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News Network
February 4,2020

Feb 4: Amid the agitations against Citizenship Amendment Act, National register of Citizens and National Population Registration across the country, Prime Minister Narendra Modi on Monday said that there is a "political design" behind all these protests including in Delhi's Jamia and Shaheen Bagh to ruin the harmony of the nation.

"Be it Seelampur, Jamia or Shaheen Bagh, protests held over the past several days regarding the Citizenship Amendment Bill. Is this just a coincidence? No. This is an experiment," said Prime Minister Narendra Modi in his first election rally for Delhi polls at Karkardooma.

"There is a political design behind all these protests including Jamia and Shaheen Bagh. These protests are a conspiracy to divide India. These protests are going to ruin the harmony of the nation," he asserted.

Lambasting the opposition parties including Congress and Aam Aadmi Party for supporting the ongoing protests, he said: "But AAP and Congress are provoking people. Constitution and tricolor are being kept in front and attention is being diverted from the real conspiracy."

"These people were doubting the ability of our forces during surgical strikes. Do citizens of Delhi want such people in power? These people are saving those who want to break India into pieces," he added.

People have been protesting at Jamia and Shaheen Bagh against CAA, NRC and NPR. Members of the Opposition have deemed CAA "discriminatory and anti-Constitution" while the Centre has maintained that the new law has no effect on Indian citizens.

Recently, two firing incidents took place near Jamia Millia Islamia University.On Sunday night, the firing incident was reported near gate number five at the university following which people including some students of the varsity gathered outside the Jamia Nagar police station. They returned from the Jamia Nagar police station after their complaint was registered.

Earlier, a student sustained injuries after a young man fired at the protestors near Jamia.

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abdullah
 - 
Tuesday, 4 Feb 2020

Once again incorrect statement and only to divert people attention.  Every one knows who is ruining image of our nation.   this govt has completely failed in all aspects and trying to survive by misguiding the citizens.  Economy is reaching zero and GDP is coming down day by day, Banks and industries on getting closed. youths are unemployed due to no chance.   However, Govt is giving false statement that nothing to worry and our economy if growing.   this govt has brought black bills of CAA and MPR only to divide the society and keep them engaged and forget the falling economy.   If this situation continues, our nation will be one of the poorest countries in the world.   This govt is trying to sell all Govt hold units like Railway, Insurance, etc to private companies only to help the industrialists and to get commission from them.    LIC was running in profit till 4 to 5 years back, but now its running in loss.   Huge amount of money from LIC is taken by Govt to hide the downfall of economy.   Only God can save our country from the hands of present looters + decoits.  

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News Network
August 8,2020

The Kozhikode International Airport located at Karipur is not safe for the landing of flights in rainy season, according to an air-safety expert, who had warned the aviation ministry and the civil aviation regulator about this in 2011. 

The warning was particularly about the dangers of permitting passenger aircraft to land on runway 10 of the airport during rains and unfavourable wind conditions. 

Nine years later, on August 7, 2020, the warning became a reality when an Air India Express pilots landed in tailwind conditions and the aircraft overshot the tabletop runway to drop off the end and crash.

 “An aircraft landing on runway 10 in tailwind will experience poor braking action due to heavy rubber deposits … All such flights … are endangering the lives of all on board,’’ said Capt Mohan Ranganathan, in a letter sent on June 17, 2011 to then director general of civil aviation Bharat Bhushan and Nasim Zaidi, chairman of a civil aviation safety advisory committee, which was formed after the May 2010 Mangaluru air crash which killed 158 people.

“My warning issued after the Mangaluru crash was ignored. It is a table-top runway with a down slope. The buffer zone at the end of the runway is inadequate,” Capt Ranganathan said. Given the topography, he pointed out, the airport should have a buffer of 240m at the end of the runway, but it only has 90m (which the DGCA had approved). “Moreover, the space on either side of the runway is only 75m instead of the mandatory 100m,” he added.

Capt Ranganathan said there is no guideline for operations on a table-top runway when it is raining. “Runway 10 approach should not be permitted in view of the lack of runway end safety area (RESA) and the terrain beyond the end of the runway. RESA of 240m should be immediately introduced and runway length has to be reduced to make the operations safe,” his letter said.

If an aircraft is unable to stop within the runway, there is no RESA beyond the end. The ILS localiser antenna is housed on a concrete structure and the area beyond is a steep slope. “The Air India Express accident in Mangalore should have alerted AAI to make the runway conditions safe. We have brought up the issue of RESA during the initial Casac-sub group meetings. We had specifically mentioned that the declared distances for both runways have to be reduced in order to comply with ICAO Annex 14 requirement,” Capt Ranganathan said.

He said the condition of the runway strip was known to DGCA teams that have been conducting inspection and safety assessments. “Have they considered the danger involved? Did the DGCA or the airlines lay down any operational restrictions or special procedures?”

The letter also refers to Approach and Landing Accident Reduction (ALAR) training, which is supposed to be mandatory before every monsoon, but airlines don’t follow it, he said. “70% of accidents take place during approach and landing and that is why this training is essential,” he added.

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