Currencies

Coimbatore: The Karumathampatti police on Sunday arrested a 30-year-old daily wage labourer man from Dharmapuri district for possession of fake currency notes.Police identified the accused as M Elavarasan, 30, from Indira Nagar near Krishna Puram in Dharmapuri district. Elavarasan and his four accomplices approached A Muthukumar, 33, a car driver from Ayyampalayam near Samalapuram in Tirupur district, with a promise to give Rs 2 lakh in return for Rs 50,000 investment. However, Muthukumar grew suspicious and informed the Karumathampatti police, who arrested Elavarasan.Police seized a car and 13 bundles of...

New Delhi: The Special Cell team of Delhi Police has busted an international racket involved in the supply of high-quality fake Indian currency notes of Rs 500. The police have arrested a key member of the cartel and recovered fake currency notes worth Rs 4 lakh in the denomination of Rs 500. The police have seized the recovered fake notes and are interrogating the accused to ascertain the truth about other members of the gang.  According to the police, the 22-year-old accused, identified as Naushad Alam, is a resident of...

New Delhi, Jun 7 (PTI) The Delhi Police has arrested a key member of an interstate Fake Indian Currency Note (FICN) syndicate and recovered counterfeit currency worth Rs 4 lakh from his possession, an official said on Saturday. The accused, identified as Naushad Alam (22), was apprehended near Vijay Ghat Bus Stand on May 8 while allegedly attempting to deliver a major FICN consignment, he said. A police team had been working on FICN-related intelligence for the past four months. During this period, credible inputs were received regarding the activities...

India’s foreign exchange (forex) reserves stood at $691.5 billion, as of May 30, and are sufficient to fund more than 11 months of goods imports and about 96 per cent of external debt outstanding, RBI Governor Sanjay Malhotra said on Friday.For the week ended May 30, the reserves dropped by $1.2 billion to break an 8-week rising trend. India’s foreign exchange reserves had recorded a robust increase of $6.99 billion to $692.72 billion in the preceding week ended May 23.Changes in foreign currency assets, expressed in dollar terms, include the...

India’s foreign exchange (forex) reserves stood at $691.5 billion, as of May 30, and are sufficient to fund more than 11 months of goods imports and about 96 per cent of external debt outstanding, RBI Governor Sanjay Malhotra said on Friday.For the week ended May 30, the reserves dropped by $1.2 billion to break an 8-week rising trend. India’s foreign exchange reserves had recorded a robust increase of $6.99 billion to $692.72 billion in the preceding week ended May 23.Changes in foreign currency assets, expressed in dollar terms, include the...

Asian equities attracted strong foreign inflows in May as concerns over an immediate economic hit from higher US tariffs eased, prompting a return by investors who had previously exited large and concentrated positions in the region.The inflows marked a sharp reversal after four consecutive months of net foreign selling.According to data from LSEG, foreign investors bought approximately $10.65 billion worth of equities across India, Taiwan, South Korea, Thailand, Indonesia, Vietnam, and the Philippines, registering their largest monthly net purchase since February 2024.US President Donald Trump’s announcement of reciprocal tariffs in...

Asian equities attracted strong foreign inflows in May as concerns over an immediate economic hit from higher US tariffs eased, prompting a return by investors who had previously exited large and concentrated positions in the region.The inflows marked a sharp reversal after four consecutive months of net foreign selling.According to data from LSEG, foreign investors bought approximately $10.65 billion worth of equities across India, Taiwan, South Korea, Thailand, Indonesia, Vietnam, and the Philippines, registering their largest monthly net purchase since February 2024.US President Donald Trump’s announcement of reciprocal tariffs in...

Captain Gopinath’s journey didn’t begin in a plush office or global boardroom. It began in the rugged terrain of the Indian Army, where discipline and tenacity were the currencies of survival. In 2003, India witnessed an aviation upheaval that few could have imagined. With a single symbolic one-rupee ticket, Air Deccan transformed from a risky startup into a household name. Behind this improbable flight path was Captain Gorur Ramaswamy Gopinath, a former Army officer who dared to question the inaccessibility of air travel in a country of over a billion...

Thane, Jun 7 (PTI) Two persons have been arrested with counterfeit currency with a face value of Rs 1.08 lakh in Maharashtra’s Thane district, police said on Saturday. Based on a tip-off, the police apprehended the accused in the Vinay Nagar area of Mira Road on June 2 and seized 26 notes of Rs 500 denomination from them, an official said. He said the accused, Suparna Ramkrishna Manna (24) and Suryadev Gopinath Gayen (20), were natives of West Bengal. Show Full Article “A search at the duo’s residence revealed that...

MUMBAI: The Indian rupee strengthened modestly on Friday as the Reserve Bank of India’s steepest rate cut in five years boosted local equities, helping the South Asian currency eke out a gain even as the dollar firmed against major peers. The rupee closed at 85.6250 against the US dollar, up from its close at 85.79 in the previous session. The rupee declined 0.2% on the week. The Reserve Bank of India (RBI) cut its key repo rate by 50 basis points on Friday and slashed the cash reserve ratio (CRR)...