The rupee pared most of its early gains and settled marginally up at 70.83 against the US currency on Thursday amid uncertainty over the delay in the deadline for imposition of higher US tariffs on Chinese goods.A spike in crude oil prices and fears of further rise in retail inflation also capped the rupee gains.At the interbank foreign exchange market, the rupee had opened higher at 70.67 against the US dollar and later touched a high of 70.56 largely on the back of losses in the US dollar following the Federal Reserve's decision to keep interest rates unchanged.Close However, growing concerns over the nearing deadline of December 15 for setting in of higher US tariffs on Chinese goods eroded the rupee gains. related news Edelweiss AMC announces public issue of Bharat Bond ETF; to raise up to Rs 15,000 cr Govt may impose anti-dumping duty on a chemical from five countries L&T arm bags order from RVNL in Uttarakhand The rupee finally settled for the day at 70.83, higher … [Read more...] about Rupee pares early gains to settle marginally up at 70.83 vs US dollar
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India's retail inflation rate in November stood at 5.54 percent, according to data released by the Central Statistics Office (CSO) on December 12.Retail inflation for October stood at 4.62 percent in October.Food prices, which is a gauge to measure changes in kitchen budgets, grew 10.01 percent in November, against 7.89 percent in October. Inflation rate in cereals and products stood at 3.71 percent against 2.16 percent a month ago. Vegetables inflation for November stood at 36 percent against 26 percent in October.Close Pulses and products recorded an inflation of 13.94 percent in November against 11.72 percent in October. related news Saudi Aramco hits $2 trillion market cap, defying valuation sceptics No power crisis in India: Minister In its December policy review, the Reserve Bank of India (RBI) maintained status quo, for the first time this year, on higher inflation expectations even as economic growth is likely to weaken going ahead.The RBI also revised downwards … [Read more...] about Retail inflation gallops to 5.54% in November
India's industrial output contracted 3.8 percent in October against a 4.3 percent contraction in September, according to the Index of Industrial Production (IIP) data released by the government on December 12.Industrial output, or factory output, is the closest approximation for measuring the economic activity of the country's business landscape.Manufacturing output, which accounts for more than three-fourths of the entire index, contracted 2.1 percent in October against a contraction of 3.9 percent in September.Close Mining production fell 8 percent in October against a fall of 8.5 percent in September. related news CBI carries out searches at 13 locations in Rs 568.52 crore bank fraud Retail inflation gallops to 5.54% in November 200 recommendations of Swaminathan report accepted by govt: Agri minister The growth of primary products fell 6 percent last month against a fall of 5.1 percent in September. Capital goods production fell 21.9 percent … [Read more...] about IIP growth for October falls 3.8%
The Supreme Court collegium's decision of revoking the promotion of two High Court judges to the apex court has generated disquiet amongst the legal fraternity.The collegium on January 10 announced the elevation of Justice Dinesh Maheshwari, Chief Justice of Karnataka High Court, and Justice Sanjeev Khanna, a judge of Karnataka High Court.This decision was in contention with the December 12 decision of the collegium, which had recommended that Justice Pradeep Nandrajog, Chief Justice of Rajasthan High Court, and Justice Rajendra Menon, Chief Justice of Delhi High Court be elevated to the apex court.Close Let’s delve into the matter and take a look at what is causing the upheaval among the judges of the country’s top court. related news CBI carries out searches at 13 locations in Rs 568.52 crore bank fraud 200 recommendations of Swaminathan report accepted by govt: Agri minister Believe Congress will take 'good decision' about leadership: Sachin Pilot The … [Read more...] about Explained| Why is Supreme Court collegium in the line of fire?
The Karnataka assembly has been witnessing seemingly heavy turbulence with members of the ruling Congress-JD(S) coalition ‘disappearing’ before the session.In a recent development, the Congress has called for a Legislative Party meeting, summoning all MLAs on February 8 at 9 am.A Congress Legislative Party (CLP) meeting was called earlier too on January 18 this year where four defiant MLAs didn’t turn up. These four MLAs – Ramesh Jarkiholi, Mahesh Kumtalli, Umesh Jadhav, and Nagendra – remained absent on the first day of the Karnataka Assembly session. Besides, three other Congress MLAs didn’t show up, leading the total number of absentees to seven.Close In order to curtail the absenteeism, the Grand Old Party issued a whip on February 5 making it mandatory for its 80 legislators to attend the assembly sessions. related news CBI carries out searches at 13 locations in Rs 568.52 crore bank fraud 200 recommendations of Swaminathan report … [Read more...] about Explained | Karnataka Assembly: A whirlwind of defecting MLAs and a looming trust vote