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Rupee rises 16 paise to settle at 85.39 against US dollar

Rupee rises 16 paise to settle at 85.39 against US dollar

Mumbai, Jun 2 (PTI) The rupee appreciated 16 paise to settle at 85.39 (provisional) against the US dollar on Monday, supported by a weak American currency and on expectations of a further reduction in key interest rate by the Reserve Bank. However, a sharp gain in the local unit was prevented due to volatile equity markets, outflow of foreign funds and higher crude oil prices, forex traders said. RBI’s Monetary Policy Committee (MPC) will begin the deliberations on its next bi-monthly policy on June 4 and the outcome is scheduled to be announced on June 6. At the interbank foreign

Telangana Formation Day celebrated in Raj Bhavan, offices of Cong, BJP, BRS

Telangana Formation Day celebrated in Raj Bhavan, offices of Cong, BJP, BRS

Hyderabad, Jun 2 (PTI) Telangana Governor Jishnu Dev Varma unfurled National Flag at the Raj Bhavan here on the occasion of state formation day on Monday. Chief Minister A Revanth Reddy also hoisted the National Flag at the state government’s official celebration of formation day organised at the Parade Grounds here. Speaking on the occasion in Raj Bhavan, the Governor wished people of the state and the Telangana people living all over the world. Hailing the progress made by the state in various sectors, he called for collective resolve to build ‘Ek Bharat, Shresht Bharat’ where every region flourishes in

Rajeev Shukla set to become acting BCCI president as incumbent Binny hits age cap

Rajeev Shukla set to become acting BCCI president as incumbent Binny hits age cap

New Delhi, Jun 2 (PTI) Veteran cricket administrator Rajeev Shukla is set to replace Roger Binny as BCCI president in an interim capacity after the latter turns 70 next month, BCCI sources told PTI on Monday. Binny, who had replaced Sourav Ganguly as the Board president in 2022, turns 70 on July 19, crossing the age-limit threshold for a BCCI office-bearer. Shukla, 65, is currently serving as the BCCI vice-president, a post he has held since 2020. He would be the active BCCI chief until fresh elections are held during the body’s AGM in September. “As per convention, the senior

Indian manufacturing growth eases to 3-month low in May, PMI shows

Indian manufacturing growth eases to 3-month low in May, PMI shows

BENGALURU, June 2 (Reuters) – India’s manufacturing growth slowed to a three-month low in May as demand softened amid price pressures and geopolitical tensions but job creation hit a record high, a survey showed on Monday. Solid manufacturing growth has helped India’s economy outperform its major peers. Asia’s third-largest economy grew 7.4% last quarter from a year earlier, the fastest expansion since early 2024 and much quicker than a Reuters poll median estimate of 6.7%. The HSBC India Manufacturing Purchasing Managers’ Index (PMI), compiled by S&P Global, fell to 57.6 in May from 58.2 in April, lower than a preliminary

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