Business

At the Interbank Foreign Exchange, the rupee opened strong at 70.38 a dollar against the previous close of 70.41.

The 30-share index rose 226.01 points, or 0.63 per cent, to 36,206.94. The gauge gained 467 points in previous three sessions. Similarly, the 50-share NSE Nifty trading 51.15 points, or 0.48 per cent, higher at 10,853.30 after rising to 10,868.80.

The CSO estimate is, however, a bit lower than 7.4% growth projected by the Reserve Bank for the current fiscal.

On Friday, the rupee had ended higher by 48 paise at 69.72 against the US dollar in line with smart gains in domestic equities and uptrend in other emerging market currencies.

The panel also noted that RBI's remonetisation drive has not augmented/resolved the cash supply to ATMs in rural/semi-urban areas, forcing shutdown of many ATMs.

The government has amalgamated three regional rural banks-Punjab Gramin Bank, Malwa Gramin Bank and Sutlej Gramin Bank into a single RRB with effect from January 1.

The government is also mulling limiting the maximum number of such consignments to four per person per year, among other steps, the official said.

Forex traders said the dollar strengthening against major global currencies overseas and fall in domestic equities dragged down the local unit, while falling crude oil prices capped rupee's losses.

The projects whose foundation stone would be laid in 2019 include an underpass between Sector 96 and Sector 126 covering a distance of 2.36 km under the Noida to Greater Noida Expressway, estimated to cost Rs 97.66 crore.

Hemant Bharghava was instrumental in completing the design and setting up a separate microinsurance vertical which was LIC's first comprehensive enterprise-wide initiative in financial inclusion space.

Traders said sustained selling of the American currency by exporters and banks propped up the rupee.

The reduction will lead to higher imports of palm oil by the world's biggest edible oil buyer in coming months as it would narrow the difference between the tropical vegetable oil and competitors such as soyoil and sunflower oil.

In March 2018, India had raised import tax on crude palm oil to 44 percent from 30 percent and lifted the tax on refined palm oil to 54 percent from 40 percent.

The shifting of goods from roads to rail will also save precious fossil fuel which will be a boon for the environment.

The agency said in a statement that it has filed the charge sheet or the prosecution complaint against the firm Diamond Power Infrastructure Ltd (DPIL) and 14 others, including its directors and executives Amit Bhatnagar, Sumit Bhatnagar and Suresh Bhatna...

The government may announce the new set of measures for farmers before the end of the winter session of Parliament on January 5.