Business

The rupee had vaulted 77 paise to a three-month high of 69.85 per US dollar on Thursday. Traders said sustained foreign fund inflows, easing crude oil prices and a smart recovery in domestic equity markets also aided the domestic currency.

The GDP growth rates for FY 2006-12 have been revised using new back series data, Chief Statistician Pravin Srivastava said.

Patel was quizzed by the panel led by senior Congress leader Veerappa Moily and which includes former Prime Minister and economist Manmohan Singh.

Fiscal deficit, a key factor determining the macroeconomic health, will come at 3.5 per cent of GDP for FY19, domestic ratings agency India Ratings and Research said.

At the interbank forex market, the rupee opened higher at 70.48 and rose further to quote at 70.30, showing a rise of 39 paise over its previous close.

"Couldn’t understand the why of Dr Viral Acharya’s speech. I am a bit disappointed with this," says DEA Secy Subhash Garg.

The accounting standard is likely to have a significant impact on airline, retail and telecom sectors.

Adhia’s retirement date was confirmed on Saturday by Finance Minister Arun Jaitley, who also thanked the former for his contribution in bringing reforms such as the GST.

He was speaking at the inaugural edition of the Moneycontrol Wealth Creator Awards.

A two-member bench of NCLAT, headed by Chairman Justice S J Mukhopadhaya, approved UltraTech's resolution plan and said that plan submitted by the rival Dalmia Bharat group firm Rajputana Properties was discriminatory against some financial creditors.

Stating that borrowing costs have already increased on higher interest rates, Moody's said it expects the Reserve Bank will continue to steadily raise the benchmark rate through 2019.

The last date for application is December 10 and the draw will be held at the MHADA headquarters in Bandra (E).

The Nikkei/IHS Markit Services Purchasing Managers' Index rose to 52.2 last month from a four-month low of 50.9 in September.

The 30-share index fell 100.54 points, or 0.29 per cent, to 34,911.11.

These OMCs and common service centres on Saturday signed a memorandum of understanding (MoU) to facilitate booking new connections, re-filling and delivery of LPG cylinders through three lakh Common Service Centres (CSCs) across the country.

Acharya, in his much-talked about speech last week, had raised the issue of autonomy of central bank and undermining the central bank's independence could be 'potentially catastrophic'.