Kolkata

The reported decision of India and Russia to suspend talks to settle bilateral trade in rupees is a big setback for the exporters, said an exporter. Simply put, dedollarisation means lesser reliance on the US dollar as a medium of exchange in international trade. "Lot of geopolitical angles would come into play in respect of dedollarisation. It depends on the kind of pressure India could face," Rakesh Shah, Director Nipha Group and former Chairman of Engineering Export Promotion Council of India (EEPC) told IANS.

The development came just hours after Kolkata Police confiscated Rs 14.53 crore from a cryptocurrency wallet of Amir Khan. However, the Bitcoin worth Rs 12.73 crore seized by the ED was not directly held by Khan, who instead used the cryptocurrency wallet of a local businessman to maintain the reserve against a commission.

For India's physical markets, the USTR has listed markets in Mumbai, Delhi and Kolkata. A major indoor market located at the heart of Mumbai, Heera Panna reportedly offers counterfeit watches, footwear, accessories, and cosmetics. Right holders warn that counterfeit cosmetics sold at this market have health and safety risks.

According to the Reserve Bank of India, the state borrowed Rs 3,000 crore from the open market on Monday - the third time in this month taking the total borrowing to Rs 6,500 crore this month - making it second after Uttar Pradesh. Earlier the state had borrowed Rs 3,500 crore in two installments in this month.

petrol prices are expected to cross the century mark in these two cities at next revision. With this the fuel will be over Rs 100 a litre in all four metros and other major cities across the country. In the financial capital Mumbai, petrol price now stands at Rs 105.92 while diesel costs Rs 96.91, data available on Indian Oil Corporation's website showed.

The price of petrol has been increased to Rs 81.38 from Rs 81.32 per litre in the national capital on Friday. Similarly, price of diesel has been increased by 20 paisa per litre to Rs 70.88 per litre in Delhi.