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Rupee falls 5 paise to close at 84.35 against US dollar

Mumbai, May 6 (PTI) The rupee settled for the day 5 paise lower at 84.35 against the US dollar on Tuesday, amid growing uncertainty and a cautious recalibration of risk appetite. According to forex traders, the USD/INR pair was supported by an overall decline in crude oil prices and sustained foreign fund inflows, while ongoing geopolitical tensions between India and Pakistan weighed on investor sentiments, keeping the rupee on edge. At the interbank foreign exchange, the domestic unit opened at 84.28 and moved between an intra-day high of 84.26 and a low of 84.63 against the greenback. The unit ended

Supreme Court restores election of CPM leader A Raja as MLA from seat reserved for scheduled caste

New Delhi, May 6 (PTI) The Supreme Court on Tuesday restored the 2021 election win of CPM leader A Raja from a Kerala seat reserved for scheduled castes and said in the age of intrusive media, where public figures, including judges, politicians and bureaucrats were under public gaze, it was not easy to hide one’s religion or caste. A bench of Justices Ahsanuddin Amanullah and Prashant Kumar Mishra allowed Raja’s appeal against the March 23, 2023 order of the Kerala high court cancelling his election. Congress leader D Kumar, who was the runner-up in the 2021 assembly polls, alleged Raja

Gold surges Rs 2,400 to Rs 99,750/10 gm ahead of US Fed Reserve meeting

New Delhi, May 6 (PTI) Gold prices surged Rs 2,400 to Rs 99,750 per 10 grams in the national capital on Tuesday due to persistent buying by jewellers and stocks, according to the All India Sarafa Association. On Monday, the precious metal of 99.9 per cent purity had ended at Rs 97,350 per 10 grams. Extending the gains for the third straight day, gold of 99.5 per cent purity jumped Rs 2,400 to Rs 99,300 per 10 grams on Tuesday. It had closed at Rs 96,900 per 10 grams in the previous close. “Gold prices edged higher as safe-haven demand

Moody’s cuts India’s GDP growth forecast to 6.3 pc in 2025 on US trade uncertainty

New Delhi, May 6 (PTI) Moody’s Ratings on Tuesday cut India’s GDP growth projections for 2025 to 6.3 per cent, from 6.5 per cent, saying economies globally will see a slowdown on account of heightened US policy uncertainty and trade restrictions. In its Global Macro Outlook 2025-26 (May update), Moody’s said geopolitical stresses, like tension between India and Pakistan, also have a potential downside risk to its baseline growth forecasts. Costs to investors and businesses are likely to rise as they factor in new geopolitical configurations when deciding where to invest, expand, and/or source goods, Moody’s said. Moody’s cut India’s

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