FIIs have been on a withdrawing spree in September and October on the back of US providing more attractive options for investing. In September, they pulled out Rs 21,035 crore from the Indian capital market.

If India's democracy has to thrive and it aspires to create independent and autonomous institutions of the nature of the Federal Reserve, it needs to go the legislative route.

Trump said he doesn't speak with Chairman Jerome Powell because of the Fed's political independence but said. \"I'm not happy with what he's doing because it's going too fast\" in raising rates at a time when inflation has remained relatively low.

The Sensex and Nifty fell nearly 3% in trade today a day after the indices logged their best gains in over six months.

The rupee breached its earlier all-time low of 74.22 hit on October 5 and fell to 74.27 level against the US currency in afternoon trade today.

The Indian rupee hit its fresh all-time low as brent crude oil prices rose back above the $84 per barrel in the international oil market.

In an unexpected move, the Monetary Policy Committee of Reserve Bank of India (RBI) on Friday kept the repo rate unchanged at 6.5 per cent. The MPC changed the stance from 'neutral' to 'calibrated tightening'

The RBI is in a dilemma whether to maintain a status quo at the time being or hike the interest rates in the economy.

With volatility in the market taking a toll on indices and individual stocks this year, the Indian rupee came under severe pressure and hit its all-time low of 73.41 against the US dollar today.

The predicted rate hike would be the RBI's third this year, having lifted borrowing costs in June and August.