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Indian rupee hits record low as appointment of new RBI chief spurs dovish bets

MUMBAI, Dec 10 (Reuters) – The Indian rupee weakened to a record low on Tuesday, pressured by heightened expectations of domestic rate cuts next year after the government named career civil servant Sanjay Malhotra as the next governor of the Reserve Bank of India (RBI). The rupee hit a low of 84.80 in early trading, surpassing its previous all-time low of 84.7575 hit last week. The RBI likely stepped in to support the rupee, with traders pointing to dollar sales by state-run banks. Malhotra, currently serving as the revenue secretary to the finance ministry, has been appointed as the RBI

AAP leader Satyendar Jain files defamation case against BJP MP Bansuri Swaraj

New Delhi [India], December 10 (ANI): Former Delhi minister and Aam Aadmi Party leader Satyendar Jain has filed a defamation complaint against BJP MP Bansuri Swaraj, alleging that her remarks on a television interview have tarnished his reputation. The Rouse Avenue Court is set to consider the complaint today. Jain has alleged Swaraj of making defamatory statements during an interview on October 5, 2023, which was widely broadcasted and viewed by millions. He has claimed that these remarks made by Bansuri Swaraj were to defame him and to gain undue political advantage. According to Jain, Swaraj falsely claimed that 3

Economists react to India’s new RBI chief announcement

NEW DELHI, Dec 10 (Reuters) – India appointed career civil servant Sanjay Malhotra as its new RBI governor on Monday in a surprise move that leaves markets guessing about the future direction of monetary policy, as growth slows and high inflation persists. With a new governor at the helm of the Reserve Bank of India and a deputy governor retiring next month, the RBI’s monetary policy committee (MCP) will have a new look. Some economists said this means rate cuts could come sooner than previously expected. The following are reactions from some economists: CAPITAL ECONOMICS “The appointment of Mr Malhotra

Ex-Karnataka CM S M Krishna no more

Bengaluru, Dec 10 (PTI) Former Karnataka Chief Minister S M Krishna died at his residence early Tuesday morning. The 92-year-old veteran politician was ailing for quite some time, a family source said. “S.M. Krishna is no more. He breathed his last at 2:45 am at his residence. Mortal remains are likely to be taken to Maddur today,” the source said. Somanahalli Mallaiah Krishna is survived by wife Prema and two daughters. Born in Somanahalli in Karnataka’s Mandya district on May 1, 1932, Somanahalli Mallaiah Krishna began his career in electoral politics in 1962 by winning the Maddur assembly seat as

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