Saturday, 25 May, 2019
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Topic: foreign exchange

Rupee

Rupee’s advance seems to be causing some discomfort for RBI

The central bank has announced plans to hold a $5 billion foreign-exchange swap auction for a three-year tenor.
A pile of Indian 2000 rupees notes

The chances of India being named a currency manipulator are slim

It is highly unlikely that India will be called a manipulator as it has persistently been running current account deficits since 2005.
Chhattisgarh addl chief secy and OSD acquired forex via fraud, claims ED

Chhattisgarh officers bought forex through impersonation and fraud, says ED probe

Additional chief secretary M.K. Raut and OSD P.K. Janawade allegedly acquired $23,380 in the name of 23 persons most of whom didn't even travel with them.
Representational image | Commons

Top Chhattisgarh bureaucrats under ED scanner, carried ‘illegal’ forex on Maldives holiday

ED issues show cause notice to Chhattisgarh addl chief secy M.K. Raut and OSD P.K. Janawade for acquiring foreign exchange worth $13,360 and $10,020 respectively. Two top bureaucrats of the Chhattisgarh government have come under the Enforcement Directorate (ED) scanner, after allegations that they illegally acquired foreign exchange for a holiday trip to the Maldives with their families. The ED has slapped a show cause notice against additional chief secretary M.K. Raut for allegedly acquiring foreign exchange worth $13,360. Former engineer-in-chief P.K. Janawade, who was reappointed as official on special duty (general administration), accompanied Raut on the trip, and has also been show caused for acquiring $10,020. Their travel agent, Raipur-based Ajay Travels, has also been show caused in the notice. The ED notice to the parties, dated 4 September 2017, says that this amounted to a “contravention of Section 3(a) and 4 of the Foreign Exchange Management Act, 1999”. The show cause...

On Camera

Congress headquarters

One in three people at Congress rallies may not have voted for the party: Lokniti-CSDS

Survey data from BJP and Congress rallies during 2019 election suggest that huge crowds are deceiving and don’t translate into votes in favour.
elections

Does Congress have a future in India after 2019 Lok Sabha election results?

The Congress party faced a crushing defeat in the 2019 Lok Sabha elections at the hands of Narendra Modi-led BJP.

Defence

An AN-32 aircraft of the Indian Air Force

IAF workhorse AN-32 gets a fuel that’s green and creates jobs for tribals

The IAF will now run its AN-32 transport aircraft on a blended bio-fuel partly derived from trees. It plans to widen the experiment over the next two years.
Graphic by Soham Sen | ThePrint

The Mandal-Mandir era is over, make way for Modi

BJP's Mandir politics has subsumed Mandal under Modi-Shah and created a pan-Hindu vote. Modi's challenger has to invent a new politics.