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Four individuals were arrested for allegedly printing and circulating counterfeit currency, Khairighat police said on Saturday. The accused were using a colour printer to produce fake ₹500 notes and luring unsuspecting people by offering three counterfeit notes in exchange for one genuine note, they added. Those arrested were identified as Hariram Lodh, 42, and Arjun, 19, both from Bahraich, and Gurucharan Singh alias Vijay, 44, and Sakim alias Suraj, 35, both from Lakhimpur Kheri. A case wa
The Reserve Bank of India raised the interest rate caps on Foreign Currency Non-Resident Bank (FCNR-B) deposits to attract more capital inflows, amid pressures on the rupee. Starting December 6, banks can offer higher rates -- up to 400 basis points for 1-3 year deposits and 500 basis points for 3-5 year deposits -- until March 31, 2025. This move comes as the rupee faces volatility.The Reserve Bank of India on Friday announced a raise in the interest rate caps on the Indian diaspora's foreign cu ...Read More >
Mumbai, Feb 10: The rupee on Monday plunged 45 paise and moved closer to the 88 per US dollar-level, weighed down by the strength of the American currency tariff concerns, but eventually settled at 87.45, up 5 paise, following RBI intervention. The American currency gained in the overseas market after US President Donald Trump's plans to impose 25 per cent tariffs on steel and aluminum imports, along with reciprocal tariffs targeting countries taxing US exports. The move has added jitters over the global trade war with China's reciprocal duties coming into effect, they said. At the interban ...Read More >
Mumbai, Jun 5 (PTI) The rupee snapped its two-day losing streak and closed 8 paise higher at 85.79 against the US dollar on Thursday, supported by positive domestic equities and a rise in Asian currencies. Forex traders said overnight softening of crude oil prices favoured the rupee. However, a strong US dollar index capped sharp gains. Besides, market participants are now keenly awaiting the outcome of the Reserve Bank of India's (RBI's) monetary policy meeting for further cues, they said. At the interbank foreign exchange, the domestic unit witnessed a volatile trading session -- it opene ...Read More >
New Delhi: In the first seizure of Fake Indian Currency Notes (FICN) this year, Delhi Police Special Cell recovered counterfeit notes with a face value of Rs 4 lakh. The high-quality fake notes, all in Rs 500 denomination, were smuggled into Delhi via Bangladesh. The courier was traced to Datia in Bihar.The accused was identified as Naushad Alam (22), a resident of Bettiah, Bihar. Additional CP (Special Cell) Pramod Kushwaha said that the unit worked on FICN-related intelligence for the past four months. "We had credible information that an interstate syndicate was involved in the circulation ...Read More >
New Delhi [India], June 8 (ANI): In a major crackdown, the Anti-Narcotics Task Force (ANTF) of the Delhi Police has busted an interstate drug syndicate and seized 348.176 kilograms of Ganja, officials said. According to Apoorva Gupta, Deputy Commissioner of Police, ANTF, Crime Branch, Delhi, the seized contraband is valued at approximately Rs 1.75 crore in the international market. The drug was being smuggled from Andhra Pradesh to the Delhi-NCR region, concealed beneath a consignment of watermelons in a truck. Two individuals, identified as Intezar Malik and Rizwan, have been arrested in c ...Read More >
Bengaluru: Mysuru Dasara is set to run for 11 days this year -- a rare extension driven by celestial alignment and cultural planning -- with the inaugural ceremony on Sept 22 and the grand Jamboo Savari taking place on Oct 2, coinciding with Vijayadashami and Gandhi Jayanti.Chairing a high-level meeting at Vidhana Soudha Friday, chief minister Siddaramaiah said, "Mysuru Dasara in 2025 will be celebrated for 11 days, due to a unique astronomical occurrence -- the Panchami tithi (fifth lunar day) will appear on two consecutive days, Sept 26 and 27, a rare alignment that hasn't occurred in nearly ...Read More >
Jaipur: Rajasthan Anti-Corruption Bureau (ACB) filed a chargesheet Wednesday against Jaikrishn Patel, who represents the Bagidora constituency in Banswara district, and three others. They were arrested on May 4 in a first-of-its-kind 'cash-for-no-query' scandal in the state. ACB has kept the investigation pending against Rohitash Meena, the personal assistant of the MLA, as he is on the run since the trap in which the legislator was allegedly caught accepting a bribe of Rs 20 lakh in the parking lot of the MLA quarters near the state assembly building.ACB prosecutor Shalini Gautam said the cha ...Read More >
VISAKHAPATNAM: Energy Minister Gottipati Ravi Kumar inaugurated Andhra Pradesh's first Super ECBC (Energy Conservation Building Code) compliant building at Sagar Nagar in Visakhapatnam on Friday. Terming it a landmark in sustainable infrastructure, he emphasised the government's commitment to energy efficiency and green design in public facilities. The facility will serve as a national-level training hub for power sector staff. He urged power utilities to expedite 20 lakh rooftop solar connections, targeting 10,000 in each Assembly segment. He reaffirmed nine-hour uninterrupted power for agri ...Read More >
New Delhi: The Aircraft Accident Investigation Bureau (AAIB) is probing from all angles, including sabotage, in the Air India plane crash in Ahmedabad that killed 274 people on board and on the ground last month, Minister of State (MoS) For Civil Aviation Murlidhar Mohol said. Mohol said the black box of the Air India flight AI 171 that has been recovered is in AAIB's custody and will not be outside the country for a thorough assessment. The MoS was speaking at the Pune chapter of the Emerging Business Conclave. "It (plane crash) was an unfortunate incident. The AAIB has begun a full investig ...Read More >
Mumbai, Jul 1 (PTI) The high-value Rs 2000 notes worth Rs 6,099 crore are still in circulation even after two years of the Reserve Bank withdrawing the currency, according to official data released on Tuesday. Rs 2000 banknotes continue to be legal tender. On May 19, 2023, the Reserve Bank of India (RBI) announced the withdrawal of Rs 2000 denomination banknotes from circulation. In a statement, the RBI said the total value of Rs 2000 banknotes in circulation, which was Rs 3.56 lakh crore at the close of business on May 19, 2023, when the withdrawal of Rs 2000 banknotes was announced, has d ...Read More >
At the interbank foreign exchange, the rupee opened at 84.49 against the greenback, registering a fall of 2 paise over its previous close The rupee fell 2 paise to trade at 84.49 against the U.S. dollar in early trade on Friday (November 29, 2024) dragged down by significant foreign fund outflows and month-end dollar demand from importers. Forex traders said the rupee remains in a weakening mode due to dollar demand from importers and foreign banks. At the interbank foreign exchange, the rupee opened at 84.49 against the greenback, registering a fall of 2 paise over its previous close. On ...Read More >
New Delhi [India], June 8 (ANI): In a major crackdown, the Anti-Narcotics Task Force (ANTF) of the Delhi Police has busted an interstate drug syndicate and seized 348.176 kilograms of Ganja, officials said. According to Apoorva Gupta, Deputy Commissioner of Police, ANTF, Crime Branch, Delhi, the seized contraband is valued at approximately Rs 1.75 crore in the international market. The drug was being smuggled from Andhra Pradesh to the Delhi-NCR region, concealed beneath a consignment of watermelons in a truck. Two individuals, identified as Intezar Malik and Rizwan, have been arrested in c ...Read More >
New Delhi: Chief minister Rekha Gupta on Sunday said authorities cannot go against demolition orders issued by courts and stressed that displaced residents have been provided accommodation.Her words came in the wake of the recent Madrasi Camp demolition for which the opposition Aam Aadmi Party (AAP) has criticised her. AAP has targeted Gupta, and alleged that the displaced Madrasi Camp residents were provided homes in faraway Narela, and those lack basic amenities.Attending an event to mark the construction of a Jan Sewa camp at a slum cluster in the Haiderpur area, Gupta told reporters: "In t ...Read More >
Mumbai: The Indian rupee weakened 28 paise to 85.75 per dollar on Monday due to strong dollar demand by both foreign and domestic banks, even as other Asian currencies strengthened amid a weaker dollar index. The domestic unit had previously closed at 85.47/$1. The Reserve Bank of India likely intervened by purchasing dollars via state run banks, traders said. The rupee traded in a range of 85.44/$1 to 85.78/$1, LSEG data showed. Dollar index was trading near its 3-year low at 97.1. "There was dollar buying by nationalised banks, likely on behalf of RBI. Oil companies and importer dollar dem ...Read More >
Trump warns BRICS nations against replacing US dollar Dec 2 (Reuters) - A gauge of emerging market stocks rose on Monday, driven by positive manufacturing data from China and expectations of continued policy support from Beijing, while India's rupee hit a record low because of weaker-than-expected economic data. As of 0932 GMT, the MSCI's index for emerging market stocks had risen by 0.7%, on track for its biggest percentage gain in over three weeks. China's blue-chip CSI 300 climbed 0.8%, and the Shanghai Composite index jumped 1.1% after a private survey indicated that Chinese factory act ...Read More >
Mumbai: The rupee declined 14 paise and touched the crucial 86.00-mark (provisional) for the first time against the US dollar Friday as it failed to resist pressure from a stronger American currency and huge outflow of foreign funds. Surging crude oil prices overseas and negative sentiment in domestic equity markets also weighed down the Indian currency, forex traders said. Also, dollar strengthened on increased demand amid the anticipation of restrictive trade measures by the new US administration after Donald Trump takes over as president January 20. At the interbank foreign exchange, the ...Read More >
Mumbai: The rupee rose 22 paise to close at 85.50 against the greenback on Friday on the back of sustained inflow of foreign funds and firm domestic equity markets. Lower level of American currency index also favoured the Indian unit though an uptrend in crude oil prices capped its gain, forex traders said. Foreign institutional investors (FIIs) purchased equities worth Rs 1,397.02 crore on a net basis on Friday, according to exchange data. This inflow came on the heels of a net buying of equities worth Rs 12,594.38 crore on Thursday. At the interbank foreign exchange, the rupee opened at 8 ...Read More >
Mumbai, Jul 1 (PTI) Rupee appreciated 17 paise to close at 85.59 against the US dollar on Tuesday, supported by weakness of the American currency in the overseas market and a positive tone in the domestic equities amid rise in risk appetite. Forex traders said the US dollar is trading at lowest levels since February 2022 as President Donald Trump's growing influence on Federal Reserve policy revived fears over the central bank's independence. Moreover, Brent crude prices remained subdued, offering a buffer to India's import bill and helping cool inflation. At the interbank foreign exchange, ...Read More >
MUMBAI (Reuters) -The Indian rupee is expected to open lower on Wednesday, tracking declines in most other Asian currencies and equities amid renewed worries over U.S. President Donald Trump's tariffs. The 1-month non-deliverable forward indicated a open in the 85.62-85.64 range, versus 85.52 on Tuesday. The rupee has been largely range bound in recent sessions, holding between the key support zone at 85.90-86.00 and resistance near 85.30. "Both of these levels are difficult to break," a currency trader at a bank said. "You'll likely have to wait until July 9 for a decisive move, and that's ...Read More >
CHENNAI: The Tamil Nadu Anti-Terrorism Squad (ATS) of the state police on Tuesday said it has arrested two accused wanted in several bomb blasts and communal murder cases after being on the run for over 25 years. The key accused among the two is Abubacker Siddique of Nagore. He is allegedly involved in the attempt to plant a pipe-bomb during the rath yatra of former home minister LK Advani in Madurai in 2011, among others. Other cases he is allegedly involved include the bomb blast at Hindu Munnani office in 1995 in Chennai, an explosion in Nagore the same year, and coordinated planting of bo ...Read More >
MUMBAI, July 3 (Reuters) - The Indian rupee touched its strongest level in a month on Thursday, lifted by dollar sales from foreign banks and cutting of bearish bets on the local currency, while optimism surrounding a U.S.-India trade deal also aided sentiment. The rupee rose to a peak of 85.20, its best level since late May, before ending the session at 85.31, up 0.4% on the day. Dollar sales from foreign banks in the latter half of Thursday's session boosted the rupee, with the rise above 85.40 also triggering stop-losses on some wagers against the currency, traders said. Asian currencies ...Read More >
AHMEDABAD: Homegrown pharma major, Zydus Lifesciences Limited, on Tuesday reported a 17.3% rise in consolidated net profit for FY 2025 at Rs 4,525.5 crore, up from Rs 3,859.5 crore in the previous year, driven by strong US and India sales. The board recommended a final dividend of Rs 11 per equity share, subject to shareholder approval at the AGM on 12 August 2025.For the March quarter (Q4), net profit fell marginally by 1.0% to Rs 1,170.9 crore from Rs 1,182.3 crore a year earlier, impacted by a one-time loss of Rs 220 crore. Adjusted for this, net profit rose 18% year-on-year to Rs 1,390.5 c ...Read More >
The long-term debt (with original maturity of above one year) at end-March 2025 was placed at $601.9 billion, an increase of $60.6 billion over its level at end-March 2024. India's external debt rose to $736.3 billion, or 19.1 per cent of gross domestic product (GDP), at the end of March 2025 from $668.8 billion, or 18.5 per cent of GDP, a year ago. In a statement, the Reserve Bank of India (RBI) said the valuation effect due to the appreciation of the US dollar vis-à-vis the Indian rupee and other currencies amounted to $5.3 billion. Excluding the valuation effect, external debt would have ...Read More >
New Delhi [India], July 2 (ANI): The Indian rupee is expected to trade in the range of 85.25-86.25 against the US dollar in the near term, according to a recent report by Bank of Baroda. The report stated that a trade deal between India and the United States will be positive for the rupee and may help support its value further. 'We expect INR to trade in the range of 85.25-86.25/USD in the near term. A trade deal between India and the US will be positive for the rupee,' the report noted. However, some amount of volatility is expected as the US tariff pause deadline on July 9 approaches. De ...Read More >
1. India: New strategy on FX volatility The Indian Respondents' Bank (RBI) is allowing more volatility on the USD/INR exchange rate, prompting many companies to hedge with forward contracts. This is the highest level of coverage since 2020. We thank in advance our Official Broker Partner PEPPERSTONE who supported us in writing this article. FX Impact: Potential weakening of the rupee in the short term, but increased stability in the medium-long term. Volatility on USD/INR, EUR/INR, JPY/INR ? opportunities for carry trades and short-term shorts if the dollar strengthens. 2. Australia hit ...Read More >
Mumbai: The Indian rupee touched its strongest level in a month on Thursday, amid increasing optimism that the India-US trade deal would happen in the next 48 hours and also owing to dollar sales from foreign banks, traders said. The rupee closed 39 paisa stronger at 85.31 per dollar, up from its previous close of 85.70 to $1, LSEG data showed. The rupee had appreciated to 85.18 to $1 during the day, its best level since late May, but likely intervention from the Reserve Bank of India (RBI) capped excess appreciation in the currency. Asian currencies mostly rose, while the dollar index remai ...Read More >
Trump's pressure on countries to remain tied to a US-dollar-based financial system could backfire, with potential increased motivation for BRICS to create alternatives. While the dollar's dominance persists due to existing economic strengths, recent global currency agreements indicate a cautious shift away from reliance on the greenback.Donald Trump's pressure on countries around the world to stay anchored to a US-dollar-based financial system is a tactic that risks backfiring, market watchers say. Dollar dominance looks set to continue for the foreseeable future and emerging nations' idea of ...Read More >
Dehradun, Dec 4 (PTI) A Dehradun-based property dealer was killed by a man he had hired to eliminate his business partner, police said. Four people have been arrested in connection with the incident. Manjesh Kumar (42) hired Arjun Kumar (30) to kill his business partner Sanjay Singh alias Fauji, however, the hitman later disclosed the plot to him, Dehradun SSP Ajai Singh said. Sanjay Singh then offered the hitman Rs 10 crore to kill Kumar instead, the SSP added. Lured by the money, the contract killer, Arjun Kumar (30) , invited Manjesh Kumar to a party on November 29 at his friend Sachin's ...Read More >
Bengaluru: The Karnataka government on Thursday took strong action against the police officers allegedly responsible for the Bengaluru stampede, suspending several high-ranking officials, including the city's police commissioner. Addressing a press conference, Chief Minister Siddaramaiah also announced a one-man commission to probe the lapses that triggered the deadly stampede. "Cubbon Park Police Station police inspector, station house master, station house officer, ACP, Central Division DCP, cricket stadium in-charge, additional commissioner of police, commissioner of police have been susp ...Read More >
New Delhi: The Special Cell team of Delhi Police has busted an international racket involved in the supply of high-quality fake Indian currency notes of Rs 500. The police have arrested a key member of the cartel and recovered fake currency notes worth Rs 4 lakh in the denomination of Rs 500. The police have seized the recovered fake notes and are interrogating the accused to ascertain the truth about other members of the gang. According to the police, the 22-year-old accused, identified as Naushad Alam, is a resident of Bihar's Bettiah. He was involved in the circulation of high-quality Fake ...Read More >