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Press Trust of India

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Articles

Rupee falls 6 paise to 94.69 against US dollar during early trade

The rupee fell 6 paise to 94.69 against the US dollar in early trade on Tuesday as the greenback strengthened further to hover around its 13-month high. FII outflows and a weaker start to the morning trade at the domestic equity markets put further pressure on the rupee while a decline in crude oil prices cushioned against a steeper decline, forex traders said. At the interbank foreign exchange, the rupee opened at 94.73 against the US dollar before rising to 94.69, down 6 paise from its previous close. The rupee depreciated 30 paise to close at 94.63 against the US dollar on Monday. "The rupee opened weaker against the US dollar, as mounting expectations of a Federal Reserve rate hike and broad-based dollar strength weighed on Asian currencies. The greenback hovered near a 13-month high, supported by optimism surrounding US-Iran peace negotiations and weakness in major currencies, particularly the British pound and Japanese yen," Pinky Yadav, Commodity Fundamental Analyst at Choic

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RBI net sold $8.944 billion in spot market in April, says bulletin

The Reserve Bank of India (RBI) net sold USD 8.944 billion in the spot currency market in April, according to the central bank's monthly bulletin released on Monday. This is the second consecutive month of selling by the central bank amid pressure on the Indian rupee. In March, the RBI had sold USD 9.758 billion in the spot currency market. On a gross basis, the central bank purchased USD 16.225 billion in April, and sold USD 25.169 billion, as per the bulletin. The Indian rupee (INR) remained under pressure in April and May amid protracted geopolitical tensions and continued foreign portfolio outflows. However, the currency recovered in June 2026, owing to capital flow measures, easing geopolitical tensions and falling crude oil prices, according to the bulletin. During 2026-27 so far (up to June 19), INR appreciated by 0.2 per cent over end-March 2026. On Monday, the rupee closed at 94.63 against the US dollar, down by 30 paise. The rupee closed the last fiscal at 94.84 against

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Annuity flexibility, tax tweaks can boost NPS growth: Axis Pension Fund CEO

Greater flexibility in retirement withdrawals and restoration of tax incentives under the new tax regime can significantly accelerate growth in the National Pension System (NPS), according to a senior industry executive. "One major issue is the compulsory 20 per cent annuity requirement. We have suggested PFRDA that with the new Retirement Income System (RIS) for de-accumulation, customers should be allowed to choose between annuity and RIS. If this flexibility is introduced, it would help significantly," Sumit Shukla, Managing Director and Chief Executive Officer of Axis Pension Fund told PTI. At present, a portion of the NPS corpus is mandatorily used to purchase annuity products at the time of retirement, though the regulator has recently introduced the Retirement Income System (RIS) framework aimed at offering more flexibility in post-retirement income planning. Shukla also pitched for restoring the additional Rs 50,000 tax deduction for NPS contributions under the new tax regim

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Centre bans sale, manufacture of 16 FDC drugs over public health concerns

The Centre has prohibited the manufacture, sale and distribution of 16 fixed-dose combination (FDC) drugs, saying they lack "therapeutic justification" and their continued use was not considered beneficial in relation to the potential risks involved. The move, the Union Health Ministry said, was to safeguard public health and promote rational use of medicines while ensuring only effective and scientifically validated medicines are available to the public. FDC drugs are those which contain a combination of two or more active pharmaceutical ingredients (APIs) in a fixed ratio. The decision follows a review of FDCs undertaken in compliance with the Supreme Court's directions. The Drugs Technical Advisory Board (DTAB) had constituted an expert committee to examine various drug combinations and identify those that were irrational, therapeutically unjustified or potentially harmful. "The manufacture for sale, sale, distribution and supply of the identified 16 FDCs for human use shall sta

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Yoga may improve cognition, mood in early Alzheimer's patients: Aiims study

Yoga may help improve cognition, reduce depressive symptoms and partially restore healthy gut bacteria in people with Alzheimer's disease, according to a new study by researchers at the AIIMS, Delhi. The collaborative study by Departments of Anatomy and Neurology, published in the Journal of Alzheimer's Disease in June, found that a 12-week structured yoga programme was associated with significant improvements in cognitive performance and mood, alongside favourable changes in the gut microbiome of patients with mild Alzheimer's disease. The study provides preliminary evidence that lifestyle interventions such as yoga may help create a healthier microbial environment in the gut, Dr Rima Dada, Professor in the Department of Anatomy at AIIMS and also the corresponding author of the study, said. "The enrichment of beneficial bacteria and reduction of pro-inflammatory microbes after yoga point towards biological mechanisms that could contribute to improved brain health," she said. Dr ..

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RIL Chairman Mukesh Ambani pushes young engineers to build AI for India

Reliance Industries' Chairman Mukesh Ambani on Friday placed the country's engineering talent at the centre of Jio's massive artificial intelligence push, calling on them to join forces to "build for India" as the Reliance Intelligence enters the next phase, of execution. Asserting that India should not remain a mere consumer of AI built elsewhere, Ambani outlined Jio's next growth chapter that pivots heavily toward artificial intelligence. "I firmly believe that India should not be a mere consumer of AI created elsewhere. It must become a creator, adopter, and global leader in AI," Ambani said while speaking at Reliance Industries' 49th AGM. He noted that Reliance Intelligence announced last year aimed to build a profitable AI infrastructure, platform, and services business serving consumers, enterprises, and governments at scale. "We set out with a clear vision, identified the focus areas, and began building the right partnerships with Google, Meta, and NVIDIA. Now, we are enteri

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India can eliminate sickle cell disease well before 2047: President Murmu

President Droupadi Murmu on Friday expressed confidence that India would eradicate sickle cell disease well before the 2047 target, and stressed the need for collective efforts to raise awareness and eliminate the genetic blood disorder, particularly among tribal communities. Addressing a state-level programme on World Sickle Cell Day in the pilgrimage town of Omkareshwar in Khandwa district, she also urged all state governments not to take the sickle cell disease lightly. Murmu said the country would achieve its national goal of eliminating the disease much ahead of schedule through the combined strength and active participation of all states. "I am confident that with the collective strength and proactive efforts of all states, we will certainly succeed in achieving our national goal of eliminating sickle cell disease from the country well before 2047," she said. Prime Minister Narendra Modi had launched the National Sickle Cell Anaemia Elimination Mission from Shahdol district o

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Banks' demand muted at RBI's VRR auction despite lower surplus liquidity

The demand from banks remained muted at the Reserve Bank of India's (RBI) three-day variable rate repo (VRR) auction held on Friday, indicating limited demand for short-term funds from banks. The central bank received bids worth Rs 16,750 crore from banks at the VRR auction against the notified amount of Rs 1 lakh crore. The RBI accepted the entire amount at the auction at a cut-off and weighted average rate of 5.26 per cent. Liquidity conditions in the banking system remained in surplus, though at a lower level. According to the latest data available with the RBI, systemic liquidity surplus stood at around Rs 19,163.11 crore as on June 18. The liquidity position improved marginally compared with the previous day but remained lower, reflecting tighter conditions in the banking system. The muted participation in the VRR auction indicates limited demand for short-term funds from banks despite the RBI providing liquidity support through variable rate repo operations. The VRR auctio

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Rupee rises 20 paise to 94.20 against US dollar as Hormuz blockade ends

The rupee appreciated 20 paise to 94.20 against the US dollar in early trade on Friday on optimism that trade negotiations between India and the United States are set to gain momentum. Forex traders said the rupee opened on a positive note with oil prices remaining supportive and foreign inflows improving. The overall bias remains positive for the rupee, they said. Moreover, Indian Foreign Secretary Vikram Misri on Thursday said trade was a major subject of discussion between Prime Minister Narendra Modi and US President Donald Trump, with both leaders directing their negotiators to finalise the proposed trade pact at the earliest. At the interbank foreign exchange market the rupee opened at 94.30, then gained momentum and touched 94.20, registering a gain of 20 paise from its previous all-time closing low. On Tuesday, the rupee settled 10 paise higher at 94.40 against the US dollar. "The RBI is expected to use incoming dollar flows to rebuild forex reserves and gradually reduce i

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Govt ratifies 8.25% EPF interest rate for FY'26, to be credited this month

The government has ratified 8.25 per cent rate of interest on employees' provident fund (EPF) deposits for 2025-26, which is likely to be credited to over seven crore contributing members this month, a source said on Thursday. EPFO provides the rate of interest on EPF after it gets ratified by the government through the finance ministry. The source told PTI that the finance ministry has given its concurrence to 8.25 per cent rate of interest fixed by Central Board of Trustees (CBT), the apex decision making body of the Employees' Provident Fund Organisation (EPFO). Earlier on March 2, 2026, the CBT in a meeting chaired by the Union Labour Minister Mansukh Mandaviya had decided to fix 8.25 per cent rate of interest for the financial year 2025-26, marking the third consecutive year this rate has been maintained. Thereafter the proposal was sent to the finance ministry for concurrence as the guarantor of the EPF is the Government of India. The source said that the finance ministry ha

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