Thursday, 23 May, 2019
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Several fraudulent withdrawals were made from the MEA employees' GPF accounts | Bloomberg

Sinking rupee will soon hit bank earnings, market liquidity

Creating a rupee shortage risks worsening liquidity in India’s banking system, which is already running short of cash.
Latest news on Plane crash in Mumbai's Ghatkopar area

Plane crash kills five in Mumbai, and the rupee is not doing well

Front Page A plane crashed Thursday while landing in Mumbai. All four crew members and a labourer on the ground died as the aircraft crashed into an open space near a construction site in the crowded suburb of Ghatkopar. The Times of India reports that the 27-year-old aircraft, which was on its first flight after being grounded for nine years, is suspected to have crashed due to a mechanical failure. Manasi Phadke of ThePrint adds that the plane belonged to UY Aviation, a firm barred by Maharashtra last year after a mishap involving one of its choppers and chief minister Devendra Fadnavis.  The Indian rupee fell to all-time low Thursday, down all the way to 69.09 against the US dollar intra-day, on the back of fears over rising crude oil prices and tariff wars in the foreign exchange market. The Indian Express reports that the rupee is now one of the worst performing currencies in the world,...

From cabbage to oil, inflation has many fathers

According to a Goldman Sachs analysis of the inflation facet that most threatens each Asian economy, exchange-rate depreciation has an outsize impact on India's.
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.

On Camera

Shoppers walk through South City Mall in Kolkata | Brent Lewin/Bloomberg

Wrong to raise alarm over slowdown in India’s consumption

Consumption cannot bail out an ailing economy. It is the consequence of a good or bad economic environment, no matter which way we calculate GDP.

Is AAP’s Arvind Kejriwal also guilty of treating Muslims as an unthinking votebank?

Days after Delhi voted in the Lok Sabha elections, AAP convenor Arvind Kejriwal said the Muslim vote “shifted” to the Congress at the last minute.


A Rafale fighter jet, manufactured by Dassault Aviation SA

Break-in at IAF’s Paris office handling Rafale procurement, cops probe espionage angle

The IAF's office in Paris houses the team that coordinates with Dassault Aviation on manufacture of Rafale jets and the weapons package onboard the aircraft.
Prime Minister Narendra Modi in Varanasi in 2014 | Commons

Pracharak Modi: The mask you see, is the man you get

India has its first leader who is unapologetic about belonging to the social and political Right. This is how Shekhar Gupta foresaw Modi’s five years in this National Interest within three months of his victory in 2014.