Perception that RBI was cutting dollar purchases was accentuated by comment from policy makers that appreciating rupee had helped tackle imported inflation.
BSE Sensex loses 0.8% while NSE Nifty 50 Index drops 0.9%. A gauge of IT firms rises 0.9%, but 16 out of 19 sector sub-indexes compiled by BSE drop.
Reliance is apparently in talks with domestic assemblers to make a version of its Jio phone that will run on Google’s Android and be offered with low cost wireless plans from Jio.
Revelations are based on a leaked trove of documents which detail more than $2 trillion in transactions between 1999-2017, flagged as possible money laundering or criminal activity.
The increase in sales point to some sign of life in rural India, and could be an encouraging sign for PM Narendra Modi as the govt prises the economy open again.
Shapoorji Pallonji Group, controlled by Pallonji Mistry, owns about 18 per cent of closely held Tata Sons, the holding company of the $113 billion software-to-cars Tata empire.
New cases per capita in Pakistan, Sri Lanka and Bangladesh are far lower than in India, making it easier for these economies to recover from the drop in GDP.
HSBC is one of about 90 banks named in leaked documents that show about $2 tn in transactions between 1999 and 2017 were flagged as possible money laundering or other criminal activity.
As migrants workers from Asia's developing nations see opportunity drying up in job market, they are sending money home in advance of their own return.
Speaking in the Lok Sabha, Agriculture Minister Narendra Singh Tomar said govt had always maintained MSP will continue as against a 'false propaganda' spread by Opposition parties.