Mumbai: The Indian market extended losses on weak Asian stocks on Monday. The benchmark index Sensex lost another 150 points in the opening bell. Asian markets were trading lower in 1-2.5 per cent range. The Sensex was down 166.73 points or 1.04 per cent at 15798.43, and the Nifty was down 53.40 points or 1.10 per cent at 4788.20. About 249 shares advanced, 721 shares declined, and 2454 shares remain...
09:23 AM, Jun 04, 2012
New Delhi: India is planning to seek technological cooperation of the US to check the flow of fake Indian currency notes the way Washington does to put a stop of circulation of counterfeit USD. Impressed by the American technology, which has a database of each counterfeit US dollar - photograph, from where it originated, its route of travel and people behind its circulation - India is all set to ask...
09:06 PM, Jun 03, 2012
Mumbai: The rupee breached the 56-mark against US dollar to touch a new low on Wednesday weighed down by global risk aversion, with the Reserve Bank of India's intervention earlier in the day seen as too mild to prevent further falls. At 12:40 pm, the partially convertible rupee was at 55.98/99 per dollar, after hitting a new record low at 56, sharply below its Tuesday's close of 55.39/40. The euro...
01:01 PM, May 23, 2012
Mumbai: Rupee resumes fall, now at 55.82/83 per dollar, moments after hitting a new record low at 55.84 to approach the key psychological level of 56. Fall comes despite RBI intervention earlier in the session pushed rupee to 55.52. Traders call the action 'mild', say they expect further falls in rupee. Traders expect some dollar selling from exporters to emerge around 55.80 levels. The rupee fell as much as to...
09:29 AM, May 23, 2012
Mumbai: The rupee made a new low of 54.91 against $, marking its third consecutive record low in a row vs 54.49/50 last close. Traders say 55 is the next key psychological resistance, breaching it could spark deep concerns. Global risk aversion weighing heavily on rupee; local shares down 1.2 percent. Risk aversion made a strong comeback with Asian stocks showing deep cuts and euro falling to a four-month low....
09:29 AM, May 18, 2012
New Delhi: The Delhi Police has told a court that a consignment of fake currency notes with a face value of over Rs 1.18 crore, seized by it in January, had been sent from Pakistan at the behest of its intelligence agency and banned terror outfit Lashkar-e-Taiba (LeT) to destabilise the Indian economy. The police made this claim in its charge sheet, filed in the court of Chief Metropolitan Magistrate...
02:30 PM, Apr 15, 2012
Mumbai: The Reserve Bank of India (RBI) has eased its overseas direct investment norms by waiving the need for Indian entities to seek its approval to open foreign currency accounts abroad. The norm has been liberalised to provide operational flexibility to Indian entities, the central bank said in a statement on Monday. However, all other norms required to open, hold and maintain foreign currency accounts for overseas investment remain unchanged,...
01:26 AM, Apr 03, 2012
Import-dependent automakers and their suppliers got bushwhacked by the Indian rupee in 2011 when it went into a tailspin after the country's trade gap began to widen and government policy drift kept investor dollars away. By the end of December, the rupee was down 20 per cent against the dollar, and by 22 per cent against the Japanese yen. The yen's rise particularly hit India's biggest carmaker Maruti Suzuki whose...
11:34 AM, Mar 13, 2012
Mumbai: The Reserve Bank will shortly issue banknotes of Rs 10 denomination with inset letter 'R' in the Mahatma Gandhi series. "The RBI will shortly issue Rs 1,000 denomination banknotes with inset letter 'R', in the Mahatma Gandhi Series bearing the signature of D Subbarao, Governor, RBI, and the year of printing on the reverse of the banknote," the central bank said in a statement. The design of these notes...
12:38 PM, Feb 22, 2012
Pretoria: The image of 93-year-old Nelson Mandela will appear on South Africa's new currency notes to mark the 22nd anniversary of the anti-apartheid icon's release from prison. "On behalf of Government and the people of South Africa, it is my honour and pleasure to announce that the new South African bank notes will bear the image of President Mandela, the President of a free, democratic South Africa," South African President...
02:23 PM, Feb 12, 2012
New Delhi: In a major seizure, the Delhi Police on Thursday seized fake currency worth Rs 6 crore. According to the police, this is the biggest fake currency haul to have happened in Delhi. The seizure of the counterfeit notes concealed in 33 cloth bundles and loaded in two tempos in a godown in Dabri area came following investigations spread over 10 days by several policemen. This single seizure almost...
05:45 PM, Jan 12, 2012
New Delhi: In nationwide raids, NIA has arrested 14 people and smashed an international racket which involved in the smuggling and distribution of fake Indian currency notes being supplied by Pakistani agents through the porous Indo-Bangla and Indo-Nepal borders. According to a NIA spokesperson, there was information that few individuals belonging to Malda of West Bengal were engaged in organised smuggling and circulation of high quality and high value fakes...
09:09 PM, Jan 10, 2012
Hyderabad: The National Investigation Agency (NIA) on Saturday busted a multi-crore fake currency racket being run in Hyderabad and arrested four people in connection with the case. Fake cash worth Rs 27,000 was recovered from the spot. The NIA conducted raids acting on a tip-off from an arrested gang leader in Kolkata. Sources in the agency said that those arrested were operating a nation-wide network and smuggled large sums in...
08:03 AM, Jan 08, 2012
Panaji: Election Commission of India has asked central forces to guard the borders of Goa to prevent smuggling in of fake currency ahead of the March 3 assembly polls in the state. Joint Chief Electoral Officer Narayan Navti said here today that Border Security Force and special forces will be deployed to watch state's borders. "(Ahead of the election) there is a possibility that fake notes might be smuggled into...
06:34 PM, Jan 06, 2012
New Delhi: India and Japan on Wednesday agreed to a dollar swap agreement of $15 billion, a move which will help stabilise the rupee and boost trade between the two countries. An earlier $3 billion arrangement, that came into force in 2008, had expired in June. Prime Minister Manmohan Singh and Japanese Prime Minister Yoshihiko Noda "decided to enhance the earlier bilateral currency swap arrangement from $3 billion to USD...
01:38 AM, Dec 29, 2011
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