According to Gorman, the rupee's depreciation is not a reflection of poor economic management, rather an \"unfortunate consequence\" of external factors.

Oil refiners such as state-owned Indian Oil Corp (IOC) and Mangalore Refinery and Petrochemicals Ltd (MRPL) could use UCO Bank or IDBI Bank to route oil payments to Iran.

The forex reserves have been declining in the past few weeks as the Reserve Bank is selling the US dollar to contain rupee depreciation

Flipkart has announced in a letter to current employees that they will be allowed to liquidate their ESOPs at $126-128 a unit - against $150 a unit as the reports had initially suggested.

Dimon said that India's world beating economic growth as well as critical reforms such as GST and the first step in bank mergers are advantages that far outweigh fears arising out of macroeconomic imbalances and a sliding currency

The Danish bank detailed compliance and control failings amid growing calls for a European Union crackdown on financial crime after a series of money laundering scandals which have attracted the attention of USauthorities.

The tax department is also examining the airline's deal with Godrej Buildcon where Jet is said to have received Rs 1,725 crore as a monetary consideration.

The rupee opened higher at 72.71 against its record closing low of 72.98 Tuesday and touched a session high of 72.34 in day trade as crude oil prices eased globally.

Following a review of the economy by Prime Minister Narendra Modi last week, the government announced an array of measures to check the decline of rupee and curb the widening current account deficit (CAD).

After the rupee plunged to new lows against the dollar, having depreciated to close to 73, the government has finally acted by announcing a slew of measures to prop up the currency.

The government's latest measures to support the rupee announced last week were particularly underwhelming for market participants who have since increased bearish positioning on the currency.

India's steel imports totaled $6.5 billion in 2017/18, according to official data.

On Tuesday, the rupee closed at its all time low of 72.98, falling 47 paise against the US currency due to surging crude oil prices and escalating trade war worries. Earlier in the day, the Indian currency hit a historic low of 72.99 in late afternoon deals.

The Redmi 6A was launched along with the Redmi 6 and Redmi 6 Pro. The other two devices have been available via flash sales for the last two weeks.

Continuing its intermittent fall against the US dollar, the Indian rupee dived to another all-time low of 72.98 on Tuesday. The currency has lost over 13 per cent in value against the greenback since the beginning of the year.

The rupee fell 46 paise to close at 72.97 level, its lowest ever against the US dollar in trade today which dampened market sentiment. The Indian currency had closed at 72.51 to the dollar on Monday. Led by the sharp fall in stocks, the market capitalisation (m-cap) of BSE-listed companies plunged by Rs 2,72,549.15 crore to Rs 1,53,64,470 crore since Friday.

Bank of Baroda, Dena Bank and Vijaya Bank to merge; govt promises to protect employees' interestsMoving ahead with consolidation of public sector banks, Finance Minister Arun Jaitley on Monday announced the merger of Bank of Baroda, Vijaya Bank and Dena Bank. The merged entity would be India's third largest. There will be no adverse impact on employees of merged entity, the Finance Minister added. Department of Financial Services Secretary Rajeev Kumar said that the new bank will ...

Since September 1, petrol prices have gone up by about Rs 3.58 per litre in Mumbai, while diesel rates have increased by Rs 3.57 per litre; the petrol and diesel both have shown a similar trend all across India.

Trump warns if China takes retaliatory action against US farmers or industries, it will immediately pursue phase three, which is tariffs on approximately $267 billion of additional imports.

The merged entity or amalgamated bank would be India's third largest.