The rupee on Wednesday (24 June) gained 26 paise to 59.50 in early trade at the Interbank Foreign Exchange market on fresh dollar selling by exporters after the RBI announced additional measures to arrest the local currency's slide. Forex dealers said additional tightening measures announced by the RBI last night to contain excessive speculation and volatility in the foreign exchange market, supported the local currency.RBI has reduced the liquidity adjustment facility (LAF) for each bank from 1 per cent of the total deposits to 0.5 per cent, thus limiting the access to borrowed funds from the central bank. Read: Rupee Keeps Govt HangingIn another measure to suck out liquidity from the system, RBI has asked banks to maintain higher average CRR (cash reserve ratio) of 99 per cent of the requirement on daily basis as against earlier 70 per cent. CRR is portion of deposits that banks are required to keep with RBI.The rupee had lost four paise, to close at 59.76 against the dollar yesterday on sustained demand from importers and a rise in the US currency overseas.Sensex Down 76 Pts In Early Trade; Banks HitSnapping its five-day rally, the Bombay Stock Exchange (BSE) benchmark Sensex on fell nearly 76 points in early trade pulled down by financial sector stocks, including ICICI Bank and HDFC Bank, after the RBI announced additional liquidity tightening measures to check rupee slide.The 30-share barometer fell by 75.94 points, or 0.37 per cent, to 20,226.19 with banking, realty and consumer durables leading the fall. The index had gained over 451 points in the past five sessions. The wide-based National Stock Exchange index, Nifty shed 38.20 points, or 0.63 per cent to, 6,039.60.Brokers said fresh round of selling by participants after the RBI last night announced additional liquidity tightening measures to check rupee slide mainly dampened the trading sentiment.The BSE banking index suffered the most by falling 3.16 per cent to 12,424.40 points as stocks of SBI fell by 2.10 per cent to Rs 1,822, ICICI Bank by 2.97 per cent to Rs 960.40, HDFC Bank by 2.57 per cent to Rs 665.20 and Yes Bank by 4.44 per cent to Rs 419.25.In the Asian region, Hong Kong's Hang Seng index traded lower by 0.35 per cent, while Japan's Nikkei Index shed 0.58 per cent, in early trade.The US Dow Jones Industrial Average, however ended 0.14 per cent higher in yesterday's trade. PTI SUN(PTI)
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Virtual Reality (VR) is making major inroads in the Indian real estate landscape and is expected to gain traction further in the coming years. Several leading real estate agencies in India have embraced VR technology to gain a competitive edge in the market. VR has the potential to transform customer engagement profoundly and take businesses to new heights. As technology evolves, Millennials are becoming more attuned to this sophisticated technology, which is why real estate companies in India are becoming more proactive in seizing this golden opportunity. Let's now have a look at the five companies that are revolutionizing the real estate sector in India with VR technology:
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Modi’s third visit to Nepal within a period of three years shows his commitment to the neighborhood first policy and his tact to handle foreign policies. India has an open border with Nepal which permits passport-free entry. Nepal is also an intermediary between the Chinese- occupied Tibet and India, and any sort of development in Nepal will directly have an impact on India’s security.
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The Indian Prime Minister, Narendra Modi interacted with Indian diaspora at an event ‘Bharat Ki Baat Sabke Sath’ at Westminster’s Central Hall in London. The presence of non-resident Indians filled the iconic hall. There were chants like “Bharat Mata Ki Jai”, “Vande Matram”, “Modi-Modi” on arrival of Indian Prime Minister which symbolize PM Narendra Modi as a Great Leader at national as well as international level. During his conversation with censor board Chief, Prasoon Joshi, he talked about current issues as well as India’s Vision 2022 like Digital India, National Health Scheme, Women emancipation, India’s International Relation (External Affairs Policy), Education, Doubling Farmers Income, etc. During the ‘Bharat Ki Baat Sabke Sath’ session, Indian diaspora also ask some questions to him which he answered. Let's have a look at some of these question:
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Canadian Prime Minister Justin Trudeau is on a week-long visit to India. The visit will witness discussions on strengthening the bilateral ties of both countries in the field of trade, investment, terrorism, infrastructure development, space, education, security, skill development etc. Another angle of Canadian Prime Minister visit is to wary about Khalistan movement on Canadian soil against India. On the other hand, there is an exchange of views on global and regional issues of mutual interest will be important aspects. Here is the Canadian PM Visit chronology for their upcoming events schedule:
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Recently exposed Rs 11346 crore fraud by renowned jewellers Nirav Modi and three other jewellers to country’s second-largest public sector bank PNB has caused a stir in banking industry. It may be the biggest banking scam till date. RBI has directed PNB to pay entire Rs 11346 crore to the lenders or it may lead to turmoil in financials of the banks. Following are some other scams which hit the news earlier:
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The Israel’s Prime Minister, Benjamin Netanyahu’s six-day visit is very fruitful for India. With more than 125 business delegates, Benjamin Netanyahu signs MoU in various sectors including Agriculture, Defence, Cyber etc. He also visits different historic buildings including Taj Mahal, Sabarmati Ashram, Teen Murti Memorial etc. He will also meet with Indian Business delegates and also some Bollywood personalities. Here are the some highlights from his visit:
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India has successfully test-fired its Agni 5 missile- the nuclear capable, inter-continental ballistic missile which can cover over 5,000 kilometers from Abdul Kalam island off Odisha coast.
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Union Budget for 2018-19 is just a few days away now, and the Indian economy is now reborn after many economic reforms like demonetization, GST, and amendments in housing infrastructure. The current government is now seeking a populous budget for the people as there is merely one year remaining for the general elections. Hence this is the government’s last budget for the Indian people. Here are the mainly 5 things expected by the people of India in the budget:
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The introductory annual union budget was introduced in India on the 7th of April in the year 1860, from the East-India Company to the British Crown. James Wilson, a Scottish businessman and the finance member of the India Council that advised the Indian Viceroy, presented the first Indian Budget on the 18th of February 1869.
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