The Indian rupee fell to an all-time low of 89.7 against the United States dollar. This came amid sluggish trade activity and portfolio flows, coupled with uncertainty about a trade deal between Washington and New Delhi.
United States President Donald Trump had said on November 10 that his country was getting close to a “fair deal” with India. However, the delay in the announcement of the trade deal and the resulting uncertainty about the future of exports were creating a stir across the market.
Washington’s tariffs on Indian exports have dented trade and portfolio flows into equities, leaving the Indian rupee reliant on interventions by the central bank for support. Read on.
The Bharatiya Janata Party has demanded an audit of 1.2 crore digitisation entries made between October 26 and October 28 in the special intensive revision of electoral rolls in West Bengal. The party has alleged irregularities in the exercise, claiming that the rise in the digitisation numbers from 5.5 crore to 6.7 crore was “an abnormal and statistically impossible”.
It also alleged that the surge was achieved not by booth-level officers, but by a political consultancy group, “known to be very close to the ruling TMC”, illegally performing the digitisation tasks.
After meeting Chief Electoral Officer Manoj Kumar Agarwal, BJP leader Suvendu Adhikari also alleged that the names of Bangladeshi citizens had been illegally added during the revision process. He said that the BJP had filed complaints against 5,000 booth-level officers. Read on.
In Bengal, BJP faces growing anger of Hindu migrants over SIR
The Supreme Court has refused to extend the December 6 deadline for waqf properties to be registered on the UMEED portal. The bench told the petitioners that they can approach the Waqf Tribunal, which has the power, under the 2025 Waqf Amendment Act passed in April, to extend the time limit for registering properties.
The petitioners had told the court that only six months were provided to register the properties on the portal, which was “very less” because not all details were available. They also said that the portal had several glitches and that they were only seeking more time to comply with the registration, as required by the Act.
However, the Union government contended that the tribunal can make exemptions on a case-by-case basis. Read on.
How the Supreme Court ruling on Waqf act puts properties in administrative limbo
The Enforcement Directorate has issued a show-cause notice to Kerala Chief Minister Pinarayi Vijayan in connection with alleged foreign exchange violations by Kerala Infrastructure Investment Fund Board. Notices have also been issued to former state finance minister TM Thomas Isaac and the board’s Chief Executive Officer KM Abraham.
Isaac described the ED action as a politically motivated gimmick ahead of local body elections in Kerala.
The central agency is investigating whether about Rs 2,150 crore raised through masala bonds issued in 2019 and listed on the International Securities Market in London were used to purchase land in alleged violation of Foreign Exchange Management Act norms. Read on.
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