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Patna: Muscleman-turned-politician Anant Singh, known as "Chhote Sarkar," filed his nomination papers on Tuesday as a JD(U) candidate for the Mokama assembly constituency, even as the party has yet to officially announce its candidates.Singh began the day with a puja at a Temple, drawing hundreds of supporters. Before heading to file his nomination, he hosted a feast at his Barh residence for more than 20,000 supporters. Arriving in a white open jeep adorned with marigolds, his convoy faced dela ...Read More >
The Indian rupee has made a strong recovery against the US dollar. This rebound comes after the US Federal Reserve signaled potential rate cuts. Falling crude oil prices and intervention by the Reserve Bank of India also supported the rupee. The dollar index has eased, boosting investor confidence in the domestic currency. Stock markets are also showing gains. The rupee recovered 88 paise from its all-time closing low to 87.93 against US dollar in early trade on Wednesday, on easing dollar inde ...Read More >
Gold smuggling into India has surged ahead of the Dhanteras and Diwali festivals due to record-high prices and tight supply, officials said. After import duties were cut from 15% to 6%, smuggling had dropped, but rising demand and limited availability have made illegal imports highly profitable. Gold prices hit a record ₹1,28,395 per 10 grams, with smugglers earning over ₹11 lakh per kilogram. Gold smuggling into India has spiked ahead of key festivals, government and industry officials told ...Read More >
Gold's glittering rally is expected to continue, with prices likely to climb towards $4,500 per ounce in overseas markets, supported by sustained global central bank purchases, persistent geopolitical tensions, and strong Asian demand, according to a report by Motilal Oswal Financial Services Ltd. Silver, which has outperformed gold in terms of returns so far this year, is projected to climb to around $75 per ounce, aided by robust industrial consumption and a widening supply deficit, the repor ...Read More >
Gold and silver prices extended their record rally, hitting fresh lifetime highs on October 16. This comes as the precious metals remain in focus amid expectations of heightened demand ahead of Dhanteras. Gold futures on the Multi Commodity Exchange of India (MCX) rose around 1 percent (Rs 1,185 per 10 grams) to hit a new lifetime high of Rs 1,28,395 per 10 grams. Gold futures with February and April expiries also hit fresh lifetime highs of Rs 1,29,380 per 10 grams and Rs 1,30,877 per 10 grams ...Read More >
Mumbai: The rupee appreciated 21 paise to 87.75 against the US dollar in early trade on Friday, supported by a softer American currency against major currencies and likely intervention by the Reserve Bank of India.Forex traders said renewed foreign fund inflows and lower crude oil prices boosted investor sentiment further. At the interbank foreign exchange market, the rupee opened at 87.91 and then gained ground and touched an early high of 87.75 against the US dollar, registering a gain of 21 ...Read More >
Gold Rate in India: The 5-day sharp rally in gold rate in India finally came to a halt on Thursday, October 16, when gold prices remained stagnant. Meanwhile, silver rate in India saw a mild decline. The minor halt has raised expectations of some price corrections ahead of Dhanteras festival celebration on Saturday. However, extended US shutdown concerns, US-China trade tensions, and geopolitical concerns are likely support the precious metals' movement on Friday, October 17. Gold rate in India ...Read More >
Mumbai: The Indian rupee made a sharp recovery against the US dollar on Wednesday, climbing up from its all-time closing low just a day earlier. It opened at Rs 88.74 and later touched Rs 87.93, its highest level in almost a month. This marks an impressive 88 paise gain from Tuesday's close of Rs 88.81. By the end of the trading session, the rupee was around Rs 88.32, up 0.5 percent. Why Did the Rupee Strengthen? One of the biggest reasons behind the rupee's comeback is the weakening of the US ...Read More >
Mumbai, Oct 16 (PTI) The rupee appreciated 40 paise to 87.68 against the US dollar in early trade on Thursday, primarily driven by central bank intervention, a softer dollar index. Forex traders said other supportive factors like positive domestic equities, lower crude oil prices and renewed foreign fund inflows also boosted investor sentiments. At the interbank foreign exchange market, the rupee opened at 87.76 and then gained ground and touched an early high of 87.68 against the US dollar, r ...Read More >
New Delhi: Markets regulator Sebi on Wednesday barred eight entities from the securities markets and impounded illegal gains of Rs 173.14 crore made by them through insider trading in the shares of Indian Energy Exchange Ltd (IEX)."I am of the prima facie opinion that the noticees (eight entities) had access to the UPSI pertaining to the CERC order, and based on the trading pattern of the noticees, an irresistible inference can be drawn that their trades, being insiders, were influenced by the p ...Read More >
Mumbai: The rupee reversed its retreating trend Wednesday to close at 88.0750 against the US dollar, with market participants attributing the steepest appreciation in nearly four months to unexpectedly heavy Reserve Bank of India (RBI) dollar sales that seemingly underscored Mint Road's discomfort with speculative positions. The rupee had closed at 88.7975 against the dollar Tuesday. The 0.8% rise through the day comes after the rupee consistently closed in 88.51 to 88.80 range in the last three ...Read More >
Mumbai, Oct 9 (PTI) The rupee traded with a slight negative bias and hovered near its all-time low levels before settling for the day at 88.79 against the US dollar, lower by 4 paise on Thursday, as strong greenback demand and ongoing trade tensions between India and the US weighed on investor sentiments. Forex traders said the USD/INR pair is trading in a tight range as absence of economic data from US amid the government shutdown may also lead to consolidation. At the interbank foreign excha ...Read More >
Kanpur: Two fire incidents were reported from the city since late Tuesday night. On Wednesday at 7:30 am, fire broke out in a building located at Goldie House, Nayaganj which was immediately brought under control by the fire service team, led by FSO Latouche Road. The team doused the flames in a hall inside the building by using two hose pipes drawing water from Nayaganj Metro station before returning to Latouche Road. No casualties were reported in the incident.A massive fire broke out late Tue ...Read More >
NEW DELHI: To foster national pride and self-reliance among students, the Ministry of Education on Friday released two special modules on Swadeshi. The NCERT booklet for Middle Stage students is themed on 'Swadeshi Vocal for Local' while Swadeshi - For a Self-reliant India' was the topic around which the secondary Stage book revolved. To explain to senior students what a self-reliant India meant, the 23-page module begins with a quote from PM Modi's speech on August 15 this year - "The bedrock ...Read More >
Mysuru, Oct 3 (UNI) Karnataka Chief Minister Siddaramaiah today asserted that his government will pursue legal action to secure funds from the Centre following the recent GST simplification, which is expected to cause the state an estimated loss of Rs 15,000 crore. Addressing the media at his residence here, Siddaramaiah criticised the Centre's move, saying it appeared motivated by the upcoming Bihar elections. "We will seek legal intervention to secure the funds," he said, pointing out that G ...Read More >
MUMBAI: While the RBI-led MPC has underwhelmed headline-seekers with its unanimous vote for status-quo on the benchmark rates, the Reserve Bank has overwhelmed them with a flurry of measures -- as many as 22 regulatory changes to count -- aimed at improving customer convenience, credit flow to the economy and individuals, and the overall ease of doing business for all along with reducing the compliance cost for regulated entities. Unveiling the 22 additional measures, Governor Sanjay Malhotra s ...Read More >
New Delhi, Oct 1 (PTI) The rupee recovered 12 paise from its all-time closing low to settle at 88.68 (provisional) against US dollar on Wednesday, as the Central Bank in its monetary policy decision announced a host of measures to support exporters and bring stability to the domestic unit. Forex traders said the rupee advanced against the US dollar as the Reserve Bank of India (RBI) left the repo rate unchanged at 5.5 per cent and maintained a neutral stance in its fourth Monetary Policy of FY2 ...Read More >
New Delhi, Oct 1 (SocialNews.XYZ) Bankers on Wednesday welcomed the Reserve Bank of India's (RBI) decision to maintain the repo rate at 5.5 per cent with a neutral stance, saying the move reflects a balanced approach in supporting growth and ensuring price stability. A neutral stance requires neither stimulation nor curbs on liquidity as it strikes a fine balance between controlling inflation without hurting growth. According to Binod Kumar, MD and CEO of Indian Bank, the RBI MPC's stable poli ...Read More >
The rupee rose 3 paise to 88.72 against the US dollar, buoyed by falling crude oil prices and positive domestic equity markets, though FII outflows limited sharper gains. Markets are now awaiting the RBI's policy decision on Wednesday, amidst geopolitical tensions and the US imposing 100% tariffs on Indian branded drugs, with exemptions for US-based manufacturing. The rupee rose 3 paise to 88.72 against the US dollar in early trade on Tuesday on the back of a fall in crude oil prices and positi ...Read More >
NEW DELHI: Lieutenant Governor V.K. Saxena has imposed the penalty of dismissal from service on Rishi Patel, Assistant Section Officer of the Delhi Development Authority (DDA), in connection with a land allotment case in Safdarjung Enclave dating back to 2020. The L-G has also directed the DDA to re-examine the punishment handed down to another officer, Paras Nath, Deputy Director (now retired). Earlier, in the same matter, the L-G had dismissed another DDA officer, Dilshad Ahmad. According to ...Read More >
New Delhi: Gold prices on Tuesday climbed Rs 500 to touch record Rs 1.20 lakh per 10 grams in the national capital due to a weak dollar and expectations of further rate cuts by the US Federal Reserve. The silver prices increa-sed by Rs 500 to hit a new peak of Rs 1,50,500 per kilogram on Tuesday. It had surged Rs 7,000 to hit a fresh peak of Rs 1,50,000 per kg on Monday. According to All India Sarafa Association, the gold had rallied Rs 1,500 to close at Rs 1,19,500 per 10 grams on Monday. Gol ...Read More >
Mumbai, Sep 30: The rupee fell 5 paise to an all-time low of 88.80 against the US dollar on Tuesday, pressured by sustained foreign capital outflows amid global trade uncertainties. However, a steep fall in global crude oil prices, along with a weaker greenback, prevented a sharp decline in the local unit, according to forex traders. The markets are also awaiting the Reserve Bank of India's (RBI's) Monetary Policy Committee decision, which will be announced on Wednesday. At the interbank fore ...Read More >
MUMBAI: The rupee continued to plumb new depths, hitting an intraday low of 88.80 on Tuesday and ending the day at a fresh closing low for the second consecutive session at 88.79 to the greenback. The latest weakness is primarily driven by the worries over how the monetary policy committee would act on the key interest rates on Wednesday. The currency opened four paise lower at 88.79 and went down further to hit an all-time low of 88.80. With this, the unit has fallen 3.71% so far this year and ...Read More >
Mumbai: Traditionally, banks were barred from lending for buying gold or silver or offering loans secured by primary gold or silver. But under new guidelines, a carve‑out allows scheduled commercial banks (SCBs) to extend working capital loans to jewellers and businesses that use gold as raw material. This change means that manufacturers who rely on gold inputs -- beyond jewelry makers -- can now access credit backed by gold. More Flexibility in Interest Spreads and Rate Resets Previously, ban ...Read More >
MUMBAI, Sept 30 (Reuters) - The Indian rupee posted its fifth consecutive monthly fall against the U.S. dollar, and hit a record low on Tuesday, as trade tensions between India and the United States escalated, pushing up dollar demand. The rupee settled at 88.7875 against the U.S. dollar, its weakest ever closing level, and down slightly from its close of 88.7600 on Monday. Earlier in the day, the currency declined to an all-time low of 88.8000. The currency fell 0.7% in September, posting it ...Read More >
Mumbai: The Indian rupee slipped to a fresh historic low of 88.79 (provisional) against the US dollar on Tuesday, pressured by continued foreign capital outflows and growing concerns over global trade tensions. At the interbank foreign exchange market, the rupee opened at 88.73 and traded in a tight range between 88.69 and 88.80 before settling at 88.79. This marked a 4 paise drop from the previous closing rate. On Monday, the rupee had already ended lower by 3 paise at 88.75 per dollar. Accor ...Read More >
MUMBAI, Sept 30 (Reuters) - India's imports of gold and silver nearly doubled in September from August, defying record high prices, as banks and jewellers rushed to build inventories ahead of festivals and escape higher taxes on imports, trade and government sources said. Higher imports by India, the world's second-biggest consumer of the precious metal, are set to support gold prices that hit records this week, even as demand languishes in top buyer China. The surge in imports could widen Ind ...Read More >
Mumbai, Sep 30 (PTI) The rupee fell 4 paise to an all-time low of 88.79 (provisional) against the US dollar on Tuesday, pressured by sustained foreign capital outflows amid global trade uncertainties. However, a steep fall in global crude oil prices, along with a weaker greenback, prevented a sharp decline in the local unit, according to forex traders. The markets are also awaiting the Reserve Bank of India's (RBI's) Monetary Policy Committee decision, which will be announced on Wednesday. At ...Read More >
MUMBAI (Reuters) -India's imports of gold and silver nearly doubled in September from August, defying record high prices, as banks and jewellers rushed to build inventories ahead of festivals and escape higher taxes on imports, trade and government sources said. Higher imports by India, the world's second-biggest consumer of the precious metal, are set to support gold prices that hit records this week, even as demand languishes in top buyer China. The surge in imports could widen India's trade ...Read More >
Mumbai: Purchases of Indian bonds by overseas investors slowed in September after rising over the past two months as a fall in the rupee made investors cautious. The rupee, which is the worst performing currency among in Asia this year, has been under pressure mostly through September on mounting worries of higher US tariffs. On September 23, it fell to a fresh record low of 88.7975 per dollar. A weak rupee erodes returns for foreign portfolio investors. Net inflows in the fully accessible rou ...Read More >
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