Rupee crashes 90 paise; Sensex sinks 500 points

Agencies
September 3, 2019

Bengaluru, Sept 3: The slide of Indian rupee continued against the US dollar as it crashed below the 90-mark in trade Tuesday while markets turned red falling over 400 points. The domestic currency opened 55 paise lower in the Interbank Forex Markets at 71.95 against the greenback, as the outflow of foreign investors from Indian markets continued. The rupee continued to depreciate further and touched the mark of 72.30 against the dollar, down 90 paise.

Meanwhile, the 30-share index was trading 518.63 points, or 1.39 per cent, lower at 36814.16 at 1.28 PM, while the broader Nifty sank 148.65 points, or 1.35 per cent, to 10,874.60.

Traders suggest that it is the continued outflow by foreign investors. “The growth numbers were not supporting. And there was no major support from Asian markets as well. So FIIs continued selling,” traders said.

The rupee gained 38 paise to close at a two-week high of 71.50 against the US dollar on Friday on renewed hopes of US-China trade talks. The higher surcharge on the ‘super-rich’ in the budget and lack of fiscal stimulus had triggered the sell-off by FIIs in Indian markets. However, the move was rolled back two weeks back.

In the previous session on Friday, the BSE ended 263.86 points higher at 37,332.79, while the Nifty rose 74.95 points to close at 11,023.25. Financial markets remained closed on Monday on account of 'Ganesh Chaturthi'.

Top losers in the Sensex pack in early trade on Tuesday included Tata Motors, Tata Steel, ICICI Bank, ONGC, HDFC, M&M, NTPC, Vedanta, ITC and SBI, which fell up to 4 per cent.

On the other hand, IT stocks rallied as the rupee depreciated 65 paise against its previous close to trade at 72.07 in early session. TechM, HCL Tech, TCS and Infosys jumped up to 2 per cent.

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News Network
January 3,2020

Dhaka, Jan 3: Bangladesh's paramilitary force chief said on Thursday that a total of 445 Bangladeshi nationals returned from India in last two months following the publication of the National Register of Citizens (NRC) by the Indian government.

Border Guard Bangladesh (BGB) Director General Maj Gen Md Shafeenul Islam disclosed the figure during a press briefing here.

"About 1,000 people were arrested in 2019 for illegal border crossings from India to Bangladesh, with 445 of them returning home in November and December," he said.

After verifying their identities through local representatives, BGB came to know that all the intruders are Bangladeshis, Islam said, adding that 253 cases were lodged against them for illegal trespass, while initial investigations found that at least three of them were human traffickers.

The BGB Director said the trespassing did not create any tension between the border forces of Bangladesh and India.

Last week, Islam visited India where he said that the creation of the NRC is completely an "internal affair" of India and the cooperation between the border guarding forces of the two countries is very good.

He said the BGB will continue to do its work of preventing illegal border crossings as per its mandate.

A BGB delegation, led by Islam, was on a bilateral visit to India to hold DG-level border talks with its counterparts, the Border Security Force (BSF).

The talks took place from December 26-29, during which a host of issues related to cross-border smuggling and activities of criminals and others along the 4,096-km-long front were discussed.

Responding to a question, Islam said, "No discussion was held at the conference over the (NRC) issue".

He said during the five-day talks held in New Delhi, the BGB demanded that the BSF should take effective steps to prevent killings of Bangladeshis on frontiers as casualty figures sharply rose in 2019.

"The number of border killings in 2019 was highest in the last four years. As per our calculation, the number of such unexpected deaths was 35," the BGB chief said.

However, the BSF estimate of the casualty figure is much lower than our calculation, he said.

Islam said the BSF is following the policy of maintaining maximum restraint and minimal use of force even after being attacked by "armed border offenders".

A statement issued by the BSF last month in New Delhi after the conclusion of the DG-level talks said, "On the concern of the BGB regarding the death of Bangladeshi nationals on borders, it was informed to them that a non-lethal weapon policy is strictly followed by BSF personnel on borders.

"Firing is resorted to only in self-defence, when BSF patrols are gheraoed and attacked by ‘dah’ (a sharp-edged weapon) etc. It was specified that the BSF does not discriminate between criminals based on nationality," it said.

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Agencies
May 23,2020

New Delhi, May 23: India will try to restart a good percentage of international passenger flights before August, Civil Aviation Minister Hardeep Singh Puri said on Saturday, three days after announcing resumption of domestic flights from May 25.

All scheduled commercial passenger flights have been suspended in India since March 25 when the Modi government imposed a lockdown to contain the novel coronavirus pandemic.

"I am fully hopeful that before August or September, we will try to start a good percentage of international civil aviation operations, if not complete international operations," Puri said during a Facebook live session.

"I can't put a date on it (restarting international flights). But if somebody says can it be done by August or September, my response is why not earlier depending on what is the situation," he said.

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Agencies
January 15,2020

Mumbai, Jan 15: The Reserve Bank of India (RBI) on Wednesday redistributed portfolios of Deputy Governors following the appointment of Michael Debabrata Patra to the post.

An official release said that NS Vishwanathan will handle co-ordination, Department of Regulation (DOR), Department of Communication (DoC), Enforcement Department, Inspection Department (ID), Risk Monitoring Department (RMD), and Secretary's Department.

BP Kanungo will look after Department of Currency Management (DCM), Department of External Investments and Operations (DEIO), Department of Government and Bank Accounts (DGBA), Department of Information Technology (DIT), Department of Payment and Settlement Systems (DPSS), Deposit Insurance and Credit Guarantee Corporation (DICGC), Foreign Exchange Department (FED), Internal Debt Management Department (IDMD), Legal Department (LD) and Right to Information (RIA) Division.

The release said that MK Jain will handle the Department of Supervision (DOS), Consumer Education and Protection Department (CEPD), Financial Inclusion and Development Department (FIDD), Human Resource Management Department (HRMD), HR Operations Unit (HR-OU), Premises Department (PD), Central Security Cell (CSC), and Rajbhasha Department.

Patra will look after the Monetary Policy Department including Forecasting and Modelling Unit (MPD/MU), Financial Markets Operations Department (FMOD), Financial Markets Regulation Department including Market Intelligence (FMRD/MI), International Department (Intl. D), Department of Economic and Policy Research (DEPR), Department of Statistics & Information Management (including Data and Information Management Unit) (DSIM/DIMU), Corporate Strategy and Budget Department (CSBD) and Financial Stability Unit.

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