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
June 30,2020

New Delhi, Jun 30: Amid calls for boycotting Chinese products after India-China face-off in eastern Ladakh, Congress leader Rahul Gandhi on Tuesday hit out at Prime Minister Narendra Modi-led government claiming that imports from China have increased under the NDA regime.

"Facts don't lie. BJP says: Make in India. BJP does: Buy from China," Gandhi tweeted along with a graphic of the percentage of imports from China during the UPA rule and the NDA government.

The graphic claims that imports from China were at 12-13 per cent when the Congress-led UPA government vacated office in 2014 but now stood at 17-18 per cent in 2020.

The Congress leader has been vehemently targeting the Centre on the India-China border situation after 20 Indian soldiers were killed in violent face-off with Chinese troops in Ladakh's Galwan valley earlier this month.

Indian intercepts have revealed that the Chinese side suffered 43 casualties, including dead and seriously injured, in the face-off.

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Agencies
March 10,2020

Bhopal, Mar 10: The number of MLAs who have resigned from the Congress in Madhya Pradesh climbed to 20 on Tuesday afternoon with another legislator quitting the ruling party, sources said.

While 19 MLAs, most of them believed to be loyal to expelled party leader Jyotiraditya Scindia, have sent their resignation letters via e-mail to Raj Bhavan, Bisahulal Singh submitted his resignation letter as an MLA to the Assembly speaker.

"We have received resignations of 19 MLAs through e-mails with attachments," a Raj Bhawan official told PTI.

Sources in Congress produced a copy of Bisahulal Singh's resignation letter which he submitted to the speaker.

Former chief minister and senior BJP leader later announced that Singh (65) has joined the BJP.

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News Network
May 22,2020

New Delhi, May 22: Air India on Friday started booking for domestic flights amid the COVID-19 lockdown.

"We have started bookings for domestic flights," said Air India in a statement.

The airlines will operate a total of 8,428 flights each week for the next three months from May 25 to August 25 as the Central government has announced the resumption of domestic flights.

Civil Aviation Minister Hardeep Singh Puri on Thursday said that a minimum and maximum fare for three months has been set for the domestic flight services, which resume from May 25.

In the case of Delhi, Mumbai the minimum fare would be Rs 3,500 for a journey between 90-120 minutes. The maximum fare would be Rs 10,000.

"This is operative for three months -- till one minute to midnight on August 24," said Puri at a press conference here.

Puri said that guidelines have been issued for the passengers and airports, which are to be followed during flight operations.

He also said that self-declaration or Aarogya Setu App status on a compatible device would be obtained to ensure that a person does not have COVID-19 symptoms.

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