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US dollar ends higher against rupee

Mumbai: The US dollar ended sharply higher against the rupee at 64.21/22 per dollar and the pound sterling also finished higher at Rs 90.34/36 per pound at the close of the Interbank Foreign Exchange (forex) market here today.

Following are the Interbank forex and RBI rates: (In Rs per unit) Unit   Interbank   RBI Reference US Dollar  64.21/22  US Dollar  Rs 63.9097 Pound Sterling  90.34/36  Euro       Rs 80.1683 Euro   80.18/20 Japanese Yen (100) 60.50/52

(PTI)

HDFC

Approves Allotment Of 24.9 Mn Shares On Preferential Basis To 8 Investors

Approves Allotment Of 24.9 Mn Shares At Rs 1,726.05/Share

MAHINDRA & MAHINDRA

To invest in Zoomcar India, Zoomcar Inc, U.S.

To invest Rs 176 cr in Zoomcar India

Initial investment in Zoomcar India likely to be completed by Feb 20

Additional investment in Zoomcar India expected to be completed by Aug 31

Co’s stake to increase to 16%

RELIGARE ENTERPRISES

RBI inspection had found diversion of funds within group firms

Funds to the tune of Rs 525 cr given to intermediary borrowing cos

Religare Finvest increased corporate loan book against RBI’s directions

RBI has asked for clarity on rollover of fixed deposits with a bank

Findings suggested continued weakness of internal controls

Economic Times Reports

FORTIS HEALTH

SC Allows Sale Of Fortis Health Shares Pledged With Lenders

SC allows Axis Bank, Yes Bank to sell, transfer pledged share of Fortis

Earlier, SC had restrained financial institutions from selling pledged shares

Business Standard Reports

INDOCO REMEDIES

Granted European GMP certification from Hungarian regulators for Mfg plant at Goa

  • SENSEX

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  • NIFTY

    10,452.30 93.20   (-0.88 %)
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PNB MD: Total exposure outstanding is Rs 11,500 Cr

News In Brief

 

    Court sends three accused in PNB fraud case to police custody

    New Delhi: A court on Saturday ordered three people arrested by the federal police on suspicion of involvement in a $1.77 billion fraud at state-run Punjab National Bank to remain under police custody until March 3.

    The three were arrested late on Friday, marking the first arrests in a fast-widening probe into the country’s biggest bank scam. The court in Mumbai ordered they remain under police custody and said the agency must get a fair chance to investigate the case, citing the potential consequences to the country’s economy.

    (Reuters)

    Moscow says no evidence behind US indictment of Russians for alleged election meddling

    Moscow: No evidence is behind the U.S. indictment of Russian nationals for alleged election interference and Moscow has given multiple explanations on what Washington called “Russian meddling efforts”, RIA news agency cited the Russian presidential envoy as saying on Saturday.

    The office of U.S. Special Counsel Robert Mueller has charged 13 Russians and three Russian companies, including the St. Petersburg-based Internet Research Agency, known for its trolling on social media.

    (Reuters)

    Indian banks may take more than $3 billion hit from PNB fraud: Tax dept

    New Delhi: Indian banks could take a hit of at least $2.7 billion from loans and corporate guarantees provided to Punjab National Bank in a $1.77 billion fraud case, the tax department said on Saturday.

    As of March 2017, banks had extended loans and guarantees worth 176.32 billion rupees ($2.74 billion) to companies tied to billionaire jeweller Nirav Modi and his uncle Mehul Choksi, the tax department said in a note seen by Reuters. But the total hit to Indian banks “may well exceed” that amount the department said in its note.

    (Reuters)

    Congress plenary scheduled for mid-March

    New Delhi: Congress plenary to be held from March 16 to 18: party sources.

    (PTI) 

    McMaster warns of growing power of Iran's 'network of proxies'

    Munich: Iran is building and arming an increasingly powerful network of proxies in countries like Syria, Yemen and Iraq that can turn against the governments of those states, U.S. National Security Adviser H.R. McMaster said on Saturday.

    “What’s particularly concerning is that this network of proxies is becoming more and more capable, as Iran seeds more and more ...destructive weapons into these networks,” McMaster told the annual Munich Security Conference. “So the time is now, we think, to act against Iran,” he said.

    (Reuters)

    Russia's Lavrov says reports on US election interference 'just blather'

    Munich: Russian Foreign Minister Sergei Lavrov declined to comment on Saturday on U.S. indictments of 13 Russians and three Russian companies in what Washington sees as a criminal and espionage conspiracy to tamper with the 2016 U.S. presidential election.

    Russia has repeatedly denied any effort to influence the U.S. election. Lavrov echoed that tone, telling participants at the annual Munich Security Conference that even U.S. Vice President Michael Pence and others had raised questions about the U.S. investigation. “So until we see the facts, everything else is just blather,” he said.

    (Reuters)

    'Public accounts 'clearly show' Assad's continuing use of chemical weapons'

    Munich: US National Security Adviser HR McMaster said on Saturday that public reports showed that Syrian President Bashar al-Assad was using chemical weapons and added that it was time for the international community to hold the government accountable.

    “Public accounts and photos clearly show that Assad’s chemical weapons use is continuing,” McMaster said while speaking at the Munich Security Conference. “It is time for all nations to hold the Syrian regime and its sponsors accountable for their actions and support the efforts of the Organization for the Prohibition of Chemical Weapons,” he added.

    (Reuters)

    Not imposed any restriction on pilgrims travelling to Pak: MEA

    New Delhi: India today said it has not imposed any restrictions on pilgrims travelling to Pakistan amid heightened tensions between the two nations following a string of terror attacks in the Kashmir Valley.

    "Of course not," External Affairs Ministry spokesperson Raveesh Kumar said when asked if India had imposed any restriction on pilgrims. The clarification comes after Pakistan reportedly blamed India for withdrawing visa applications of pilgrims from the Pakistan High Commission in New Delhi.

    (PTI)

    CBI arrests two PNB officials

    CBI arrests two PNB officials, Gokulnath Shettey (now retired) and Manoj Kharat, and authorised signatory of Nirav Modi company, Hemant Bhat: Officials. 

    (PTI)

    No change in foodgrain prices

    Chennai: Prices of all commodities remained unchanged in the wholesale foodgrain market here today.   

    Following are the wholesale rates of various agri-commodities (rates in rupees per quintal, unless stated otherwise):Thoor Dal Rs 7,200, Urad Dal Rs 6,700, Moong Dal Rs 7,300, Gram Dal Rs 5,200, Sugar Rs 3,600, Wheat Rs 2,600, Maida (90 kg) Rs 2,400 and Sooji (90 kg) Rs 3,000. 

    (PTI) 

    China says will protect its interests amid U.S. trade probe

    Beijing: China’s Commerce Ministry said on Saturday the country will take necessary steps to protect itself if a final U.S. decision on imposing steep curbs on steel and aluminum imports from China and other countries affects China’s interests. 

    The ministry added that the U.S. Commerce Department report was “baseless” and did not accord with the facts.

    (Reuters) 

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