Private banks operating in the country have detected and processed the maximum number of counterfeit currency instances in banking channels surpassing both public sector and foreign banks by a huge margin, an official report of the Finance Ministry has said. ...
04:50 PM, Feb 26, 2013
A Finance Ministry report has come out with shocking details about terror funding just a few days after the Hyderabad bomb blasts. According to the report terror funding has gone up by 300 per cent in the last one year while cases of hawala transaction and fake currency notes have also increased manifold. ...
02:00 PM, Feb 25, 2013
A Pakistani woman national, who has been acquitted in a case of possessing fake Indian currency after remaining in jail for 30 months, has moved the Bombay High Court challenging the decision of authorities to deny her permission to return to her country. Rashida Tinwalla, 42, who had come to India in December 2009 and claims to be "penniless", is a divorcee and her three minor kids stay with her...
05:40 PM, Feb 19, 2013
The rupee on Friday gained six paise to 53.86 against the dollar in early trade at the Interbank Foreign Exchange on fresh selling of the US currency by exporters. Forex dealers said strengthening of yen against the dollar overseas also supported the rupee. ...
09:47 AM, Feb 15, 2013
The Reserve Bank on Thursday said it is in talks with the government to amend the relevant laws to ensure that persons generating fake currency are punished and not those who possess such notes innocently. ...
01:26 AM, Feb 08, 2013
Bollywood singer Mika Singh was on Wednesday detained at the international airport in Mumbai for allegedly carrying Indian and foreign currency beyond permissible limit. Mika, who arrived here from Bangkok by a private airline around 7:30 pm, was intercepted by customs officials. ...
11:25 PM, Feb 06, 2013
In a major embarrassment for the Congress, the brother of its Tripura unit president was arrested on Monday evening. Sandip Roy Barman was caught with arms, Bangladeshi currency and a few letterheads of the National Liberation Front of Tripura (NLFT) by the Assam Rifles near Agartala. ...
08:58 PM, Jan 28, 2013
The rupee on Wednesday lost 18 paise to 54.79 against the US dollar in early trade on the Interbank Foreign Exchange due to appreciation of the American currency against the euro overseas and a weak opening in the domestic equity market. Increased demand for the dollar from banks and importers also put pressure on the rupee. ...
10:45 AM, Jan 16, 2013
Erasing earlier gains, the rupee on Tuesday lost three paise to 54.52 against the dollar in late morning trade due to renewed demand for the US currency from banks and importers amid firm global cues. Forex dealers said the local unit resumed higher at 54.37 as against the last closing level of 54.49 per dollar at the Interbank Foreign Exchange (Forex) Market and moved up further to 54.34 on selling...
12:35 PM, Jan 15, 2013
The rupee on Monday strengthened by 15 paise to 54.34 against the dollar in early trade at the Interbank Foreign Exchange, on selling of the US currency by exporters and banks and strong capital inflows. Besides a higher opening in the domestic equity market and continued capital inflows, strengthening of the euro against the dollar overseas also supported the rupee, forex dealers said. ...
10:51 AM, Jan 15, 2013
The rupee on Monday recovered by six paise to 54.70 against the dollar in early trade at the Interbank Foreign Exchange (forex) market on selling of the US currency by exporters and banks. Forex dealers said strengthening of euro against the dollar overseas after ECB chief Mario Draghi's positive comments last week about the euro-zone's outlook and a higher opening in the local equity market also supported the rupee. ...
10:57 AM, Jan 14, 2013
The Reserve Bank of India (RBI) is contemplating to allow foreign institutional investors (FIIs) in currency futures market, Deputy Governor HR Khan said on Wednesday. "We are thinking whether FIIs can participate in currency futures," Khan said while speaking at a seminar on capital markets organised by industry body CII in Mumbai. ...
09:45 PM, Dec 12, 2012
Mumbai: The rupee fell to a two-month low on Monday, touching 55 to the dollar, after data showed India's trade deficit widened in October. The data raised concerns about the current account deficit. The rupee was trading at 54.91/92 to the dollar as of 12:11 pm after briefly touching 55, a level last seen on September 13, 2012. It had last closed at 54.75/76 on Friday. ...
12:41 PM, Nov 12, 2012
Mumbai: A Bengali film actor, who was suspected to be a part of the international fake currency racket, has been arrested from West Bengal, police said on Wednesday. Babloo Shaikh had been arrested from Malda of West Bengal on Tuesday, a crime branch official said. Shaikh, who hails from West Bengal, was on Wednesday produced before a local court which remanded him to police custody till Thursday. On October 4,...
09:18 PM, Nov 07, 2012
Lahore: Over 1,200 items on the negative list regime for trade with India will be withdrawn in December and the time has come for the two countries to think of introducing a common currency to boost trade, ruling Pakistan People's Party (PPP) leader Jehangir Badr has said. "Precisely 1,209 items on the negative list of trade with India will be withdrawn by December," Badr said while addressing a Pakistan-India Media...
06:56 PM, Oct 20, 2012
Mumbai: The rupee continued to rule firm at 51.97 against the American currency in the later morning trade on persistent dollar selling by banks and exporters in view of sustained capital inflows from foreign funds into the equity market despite firm dollar overseas. The rupee had resumed higher at 52 per dollar at the Interbank Foreign Exchange (Forex) market and moved in a range of 51.86-52.10, before quoting at 51.97...
09:59 AM, Oct 04, 2012
Mumbai: The rupee and bond prices trimmed gains after the Reserve Bank of India (RBI) kept interest rates on hold, dashing hopes the central bank would follow up with action of its own after the government announced fiscal reform measures. The rupee was trading at 53.76/77 per dollar as of 11.07 am, weakening from around 53.71 levels before the RBI announcement, although still stronger than its 54.30/31 close on Friday....
11:44 AM, Sep 17, 2012
HSBC raised its forecast for the Indian rupee at the end of December this year to 52 to a dollar from 57 previously, citing the government's recently announced reform moves as well as the Federal Reserve's quantitative easing. "Additional reforms may be forthcoming, which in turn could quell concerns over a possible downgrade for the sovereign. If so, we would likely see additional room for the INR to strengthen," the...
11:40 AM, Sep 17, 2012
Mumbai: The rupee rose to a four-month high in early trade on Monday with hopes of major foreign inflows after the federal government announced opening up of the aviation and multi-brand retail sectors to overseas direct investment. At 9.04 am local time, the rupee was at 53.72/73 to the dollar against its previous close of 54.30/31. It rose to a high of 53.66, its highest since May 15. The market...
09:44 AM, Sep 17, 2012
Ahmedabad: A racket of fake currency circulation, allegedly being run from Pakistan and Dubai via Bangladesh, was busted by the Gujarat Police on Wednesday with a seizure of counterfeit notes with a face value of Rs 26.18 lakh, police said. The notes were in the denomination of Rs 500 and 1,000, a senior police official said, adding that 14 persons, including a woman, were arrested. The arrests were made across...
05:04 AM, Sep 13, 2012
