The rupee on Wednesday opened 4 paise down at 68.90 against dollar amid heavy selling in domestic equities and rising crude oil prices.
The Indian rupee opened marginally lower at 68.90 per dollar on Wednesday against previous close 68.86.
Riding on healthy domestic demand and a spurt in exports, Indian readymade garment companies are set for around 300 bps revenue growth to around 10 per cent in 2019, compared with around 7 per cent in 2018, according to Mumbai-based Crisil Ratings.
The Reserve Bank of India (RBI) on Tuesday allowed domestic banks to directly sell their bad loans in manufacturing and infrastructure sectors to investors abroad as part of one-time settlement (OTS) exercises. The move will allow overseas investors to take direct loan exposure to Indian corporates.
This refers to "Slowdown and NBFC crisis pose fresh NPA scare for banks: Moody's" (July 29). It’s true that while public sector banks (PSBs) are coming out of stressful situations, a number of NBFCs and HFCs could be slipping into problems.
About 30 Indian exhibitors are displaying a variety of fabrics, made-ups, home textiles and blended yarn at the India International Textiles Expo (IITExpo) exhibition that opened in Colombo on July 29.