Indian Rupee

The fiscal deficit shows the amount by which the expenditure of the government exceeds its income with the gap being met through borrowings.

The RBI has been intervening periodically to sell dollars in the market to prevent the rupee from going into a free fall, according to traders.

However at the same time, he cautioned that the main challenge would be to ensure that the rupee remains competitive, as there is a natural tendency for the Indian currency to appreciate.

"It makes no difference to us if the INR becomes a common currency. We'll have to figure out how to go about it," Sri Lanka's head of state said while participating as the chief guest at the 'Indian CEO Forum' in Colombo.

BSESENSEX gained 1,739.19 points or 2.76 per cent to close at 64,718.56 points while NIFTY gained 523.55 points or 2.80 per cent to close at 19,189.05 points. The broader indices gained as well and saw the BSE100, BSE200 and BSE500 gain 2.70 per cent.

Non-debt capital receipts consists of recovery of loans of Rs 592 crore and miscellaneous capital receipts of Rs 9 crore. An amount of Rs 59,140 crore has been transferred to state governments as devolution of share of taxes by the Central government upto this period, which is Rs 11,548 crore higher than the previous year.

According to RBI's annual report for FY22, during FY20, 17,020 Rs 2,000 denomination counterfeit notes were detected and the number went down to 8,798 pieces in FY21 and climbed up to 13,604 pieces in FY22. It should be noted that the RBI had stopped printing of the Rs 2,000 notes during FY19.

BSESENSEX was up 1,457.38 points or 2.44 per cent to close at 61,112.44 points while NIFTY gained 440.95 points or 2.50 per cent to close at 18,065.00 points. The broader markets saw BSE100, BSE200 and BSE500 gain 2.44 per cent, 2.53 per cent and 2.53 per cent respectively. BSEMIDCAP gained 2.61 per cent while.

According to the Bank of Baroda report authored by Economist Aditi Gupta, the Indian rupee is most likely to make further gains against the US dollar in the next fortnight with a range of Rs 81.5/$ - 82.5/$. In April this year, the Indian rupee gained 0.4 per cent building on a gain of 0.6 per cent it made in March 2023.

"It is now proposed to expand the scope of UPI by permitting operation of pre-sanctioned credit lines at banks through the UPI. This initiative will further encourage innovation," Das said. According to him, the UPI has transformed retail payments in India and its robustness has been leveraged to develop new products and features from time to time.