Business

Taking over as the interim Chairman of the Tata Sons after the sacking of Cyrus Mistry, Ratan Tata wrote to employees stating he agreed to take up the role of interim Chairman in the interest of stability and reassurance to the group.

A slew of banks in India will replace or ask customers to change security codes of as many as 3.25 million debit cards due to fears that the card data may have been stolen in one of the country's largest-ever cyber security incidents.

The Reserve Bank of India on Wednesday fixed the reference rate of the rupee at 66.7145 against the US dollar and 73.2125 for the euro.

The rupee appreciated 12 paise to 66.76 against the US dollar on Tuesday

On India's global competitiveness ranking, which has improved to 39 this year, he said many policy changes in the recent past have added to the ease of doing business.

The rupee fell for the third straight day by losing 9 paise to 66.78 against the dollar at the forex market on Friday

The Sensex recovered by over 49 points on Friday, driven by a fresh round of buying in select blue-chips

The rupee had closed 13 paise higher to end at 66.46 against the US dollar yesterday after RBI, in a surprise move, slashed the key policy rate by 0.25 per cent to 6.25 per cent and on heavy dollar selling by banks and exporters.

Before the dip in August, both the retail as well as wholesale price indices were on a continuous upward spiral.

Market benchmark Sensex rescaled the key 28,000-mark by surging almost 161 points in early trade today on optimistic buying ahead of the RBI policy review tomorrow amid a firming rupee.

Elsewhere, silver maintained its strong rising trend and reclaimed the key Rs 47,000 mark - on heavy industrial demand.

The NSE Nifty went up by 73.65 or 0.84 per cent to 8,816.20.

India's trade deficit in August 2016 at $7.67 billion witnessed a 38 per cent fall compared to the same month last year at $12.40 billion, commerce ministry data showed on Thursday.

Finance Ministry on Wednesday said that it will ascertain facts with regard to instances of bankers depositing small amounts in the Jan Dhan accounts.

The NSE index Nifty too climbed 68.10 points or 0.77 per cent to 8,877.75.

Outspoken as he has been with his views, 53-year-old Rajan went on to make public that he was willing to stay longer but an "agreement" could not be reached with the government in this regard.