Rupee falls 18 paise to 86.88 against US dollar in early trade
Mumbai (PTI): The rupee depreciated 18 paise to 86.88 against the US dollar in early trade on Tuesday as month-end dollar demand and sustained foreign fund outflows weighed on the local unit.
Forex traders said the domestic unit traded with a negative bias as the demand for dollars from importers continued to keep the American unit well bid against the rupee.
Moreover, a muted trend in domestic equities and sustained foreign fund outflows further dented investors' sentiments, they said.
At the interbank foreign exchange market, the rupee opened at 86.76 and then touched an early low of 86.88 against the American currency, registering a fall of 18 paise over its previous close.
On Monday, the rupee had settled at 86.70 against the dollar.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose marginally by 0.01 per cent to 98.64.
Brent crude, the global oil benchmark, went up by 0.04 per cent to USD 70.07 per barrel in futures trade, as developing trade agreements eased tariff concerns and boosted future energy demands.
The rupee opened on a weaker note and could fall to one-month low of 86.90 this week, said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP.
"RBI seems to be protecting the rupee intermittently but has allowed the fall in slow and steady way. Equities have also not been rupee-supportive," he said.
Meanwhile, in the domestic equity market, Sensex was trading 51.09 points or 0.06 per cent higher at 80,942.11, while Nifty rose 18.30 points or 0.07 per cent to 24,699.20.
Foreign institutional investors (FIIs) offloaded equities worth Rs 6,082.47 crore on a net basis on Monday, according to exchange data.
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Bill to regulate deepfakes tabled in Lok Sabha
New Delhi (PTI): A Private Member's Bill seeking a clear legal framework for regulation of deepfakes has been introduced in the Lok Sabha.
The Regulation of Deepfake Bill, introduced by Shiv Sena leader Shrikant Shinde in the House on Friday, aims to protect citizens by mandating prior consent from individuals depicted in deepfake content.
"Misuse of deepfakes for harassment, deception and misinformation has escalated, creating an urgent need for regulatory safeguards," Shinde said.
The Bill also lists penalties for offenders creating or disseminating deepfake content with malicious intent.
"With advancements in artificial intelligence and deep learning, deepfake technology has emerged as a significant tool for media manipulation. While the technology has potential applications in education, entertainment and creative fields, it also poses severe risks when misused, threatening individual privacy, national security and public trust," Shinde said in the statement of objects and reasons in the Bill.
The proposed Bill seeks to establish a clear legal framework to govern the creation, distribution and application of deepfakes in India, said Shinde, a three-term Lok Sabha member from Kalyan.
The Bill also seeks to establish the Deepfake Task Force, a dedicated body to combat national security implications and evaluate the influence of deepfakes on privacy, civic participation, and potential election interference.
The task force will collaborate with academic and private sector institutions to develop technologies that detect manipulated content, thereby promoting credibility in digital media.
The Bill also proposes to establish a fund to support public and private sector initiatives in the detection and deterrence of advanced image manipulation.
A Private Member's Bill is a procedure of Parliament that enables lawmakers, who are not ministers, to draw attention to issues that might not be represented in Government Bills or to highlight the issues and gaps in the existing legal framework that require legislative intervention.
