Finance

Rupee gains 11 paise to 70.81 against U.S. dollar in early trade

Rupee gains 11 paise to 70.81 against U.S. dollar in early trade

Finance
Updates from :  the Hindu : The rupee appreciated by 11 paise to 70.81 against the U.S. dollar in opening trade on Tuesday, driven by weakening of the greenback in overseas markets and fresh foreign inflows. The rupee opened weak at 70.95 at the interbank Forex market then gained further ground and touched 70.81 amid a weak opening in domestic equities, displaying gains of 11 paise over its last close. Forex dealers said, selling of the American currency by exporters supported the rupee. The rupee on March 1 had weakened by 20 paise to close at 70.92 against the U.S. dollar. The domestic Forex market and equity market were closed on Monday on account of Mahashivratri. Forex traders said, fresh foreign fund inflows and easing crude prices also supported the rupee. Mea
Sensex, Nifty start on a tepid note

Sensex, Nifty start on a tepid note

Finance
Updates from :  the Hindu : Besides, subdued cues from other Asian markets too weighed on investor sentiment here. Benchmark indices started on a negative note on Friday as investors turned cautious after the release of the minutes of RBI’s last policy meet, in which governor Shaktikanta Das argued the need to look at growth concerns. Besides, subdued cues from other Asian markets too weighed on investor sentiment here. The BSE Sensex was trading 75.24 points, or 0.21 per cent, lower at 35,823.11. Similarly, the 50-share NSE Nifty fell 25.95 points, or 0.24 %, to 10,763.90. In the previous session, the 30-share index settled 142.09 points, or 0.40 % higher at 35,898.35. The broader Nifty gained 54.40 points, or 0.51 %, to 10,789.85. Top losers in the Sensex pack in morn
Tough times for private banks

Tough times for private banks

Finance
Updates from :  The Hindu : ICICI, Axis, Kotak, Bandhan and Yes hit the headlines for the wrong reasons For high street private sector bankers, 2018 was a year they will want to forget quickly. For the first time perhaps, they are under the public glare for the wrong reasons. It started with the bad loan problem of the public sector banks having a spillover effect in terms of public perception on private sector banks. However, the image of private banks among investors and the public took a real hit over the course of the year. It started with ICICI Bank. Allegations of conflict of interest were levelled against the bank’s MD and CEO Chanda Kochhar for allegedly favouring a corporate entity to which her husband had financial links. Ms. Kochhar finally decided to resign in
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