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Rupee rises 23 paise to close at 86.35 against US dollar

Rupee rises 23 paise to close at 86.35 against US dollar

Mumbai, Jan 22 (PTI) The rupee appreciated 23 paise to close at 86.35 against the US dollar on Wednesday, supported by positive domestic equities and soft American currency index. Forex traders said the rupee is likely to witness high volatility with a negative bias ahead of key events in the global and domestic economic landscape. Moreover, the overall uncertainty about the global economy continued to weigh on both currencies and commodities, keeping investors on edge. At the interbank foreign exchange, the rupee opened at 86.56 against the greenback. During the day, the local unit touched an intraday high of 86.30

At least 11 killed in rail accident in Maharashtra, local media says

At least 11 killed in rail accident in Maharashtra, local media says

NEW DELHI, Jan 22 (Reuters) – At least 11 people died in a rail accident in India’s western Maharashtra state on Wednesday when they disembarked from their train, fearing a fire, only to be hit by another train passing on the adjacent track, local media reported. Railway officials told local media that someone had pulled the train’s alarm chain, causing it to come to a halt, after which several passengers deboarded onto the adjacent tracks and were mowed down by another passing train. “As per the information, 11 people have died in the accident and 5 others are injured,” Praveen

Gold jumps Rs 630 to hit record high of Rs 82,730 amid strong global cues

Gold jumps Rs 630 to hit record high of Rs 82,730 amid strong global cues

New Delhi, Jan 22 (PTI) Gold prices rallied by Rs 630 to a lifetime high of Rs 82,700 per 10 grams in the national capital on Wednesday following persistent buying by jewellers and retailers amid strong global trends, according to the All India Sarafa Association. Rallying for the sixth straight session, gold of 99.5 per cent purity appreciated by Rs 630 to hit a lifetime high of Rs 82,330 per 10 grams. “Gold prices touched new all-time highs in Wednesday’s session. The uncertainty surrounding US President Donald Trump’s trade policy appears to be an important factor driving a haven flow

India market regulator proposes sachet-sized investments with easier rules

India market regulator proposes sachet-sized investments with easier rules

MUMBAI, Jan 22 (Reuters) – India’s market regulator has proposed that fund houses launch sachet-sized investments plans, offering small investors a way into the financial markets. In a consultation paper released on Wednesday, the Securities and Exchange Board of India (SEBI) asked fund houses to launch systematic investment plans (SIPs) starting at 250 rupees or around $3 with lower costs and easier customer identification processes. The objective, SEBI said, is to “promote financial inclusion, inculcate the habit of systematic saving and facilitate investment of small savings by investors new to the Mutual Fund space.” About 225 million investors currently invest

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