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No breach of member, student or examination data, says ICAI
The Institute of Chartered Accountants of India (ICAI) on Monday stated that there has been no breach of records of its members, students or examination data. The apex body dismissed the claims as 'completely false, baseless and malicious.' It urged its stakeholders to not give credence to the alleged misinformation and asserted that it has robust systems in place to protect its data.
INR appreciates under Rs 95 per dollar after RBI announces measures to support foreign capital inflows and strengthen forex liquidity
The Indian rupee appreciated 81 paise to close at 94.93 (provisional) against the US dollar on Friday after the Reserve Bank announced measures to support foreign capital inflows and strengthen forex liquidity. The announcements in the RBI policy boosted investor sentiments after the apex bank asserted that the country's forex reserves provide a sufficient buffer against external shocks. The Reserve Bank on Friday expectedly kept interest rates unchanged for the second time in a row as it weighed the impact of rising energy prices and supply disruptions caused by the West Asia crisis. The RBI kept its repo rate Steady at 5.25% amid uncertainty owing to US-Iran War. However, it expanded the Fully Accessible Route, or FAR, to include all new 15-year, 30-year and 40-year government security issuances. Due to this, the foreign investors will get wider access to longer-tenor Indian government bonds. This also opens up more room to invest in Indias bond market. The central bank has also ...
Supreme Court rules consumers not liable for unused power plant tariffs
The Supreme Court has ruled that electricity consumers are not obligated to pay tariff charges for a power plant that has stopped supplying electricity. The apex court restored a previous order against Tata Power Delhi Distribution Ltd. This decision means consumers will not bear the cost of a plant that is no longer operational.
DCM Shriram divests 50% stake in Shriram Polytech for $5.6 million
DCM Shriram said that the company and Shriram Polytech (SPL) have entered into an agreement with Teknor Apex B.V. for transferring 50% equity stake held by the company in SPL to Teknor, for a cash consideration of $5.6 million.