Rupee falls 5 paise to 90.22 against US dollar in early trade
Mumbai (PTI): The rupee weakened by 5 paise to 90.22 against the US dollar in early trade on Tuesday, amid a strengthening American currency, higher crude oil prices and incessant outflow of foreign funds.
An unprecedented geopolitical concern and global trade uncertainties have accelerated the dollar demand worldwide, adding strength to the greenback and putting pressure on the Indian currency, analysts said.
At the interbank foreign exchange, the rupee opened at 90.24 and gained slightly to trade at 90.22 against the greenback in early deals, registering a loss of 5 paise from its previous closing level.
On Monday, the rupee ended 1 paisa higher at 90.17 against the US dollar.
Meanwhile, the dollar index, which measures the strength of the greenback against a basket of six currencies, was trading 0.11 per cent higher at 98.73.
Brent crude, the global oil benchmark, was trading 0.28 per cent higher at USD 64.05 per barrel in futures trade.
Foreign institutional investors offloaded equities worth Rs 3,638.40 crore on Monday, according to exchange data.
On the domestic equity market front, the 30-share benchmark index Sensex rose 125.96 points or 0.15 per cent to 84,004.13, while the Nifty advanced 47.25 points or 0.18 per cent to 25,837.50.
Analysts attributed the buying trend in equities to the positive cues triggered by strong domestic macroeconomic numbers.
According to government data released on Monday, India's retail inflation rose to a three-month high of 1.33 per cent in December, mainly due to higher prices of food items, but remained below the Reserve Bank of India's lower tolerance level.
Also, the latest data from the Income Tax Department showed the government's net direct tax collection grew about 8.82 per cent to over Rs 18.38 lakh crore in the current fiscal till January 11 due to slower refunds and better corporate tax mop-up.
Net corporate tax collection grew 12.4 per cent to over Rs 8.63 lakh crore, and taxes from non-corporates, including individuals, rose 6.39 per cent to about Rs 9.30 lakh crore.
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Six faculty members of dental college suspended following student's suicide
Bengaluru (PTI): Six faculty members of a dental college here have been suspended by the management pending further inquiry into the death of a 23-year-old student by suicide.
In an official communication dated January 12, Bengaluru-based institution, The Oxford Dental College, said that the inquiry in the matter would continue and that the suspension would remain in force till further notification.
The suspended faculty members include senior lecturers Anmol Razdan, Shabana Banu, Faika Kolkar and Alba Dinesh, Reader Sindhu R, and Professor Sushmini Hegde, all from the Department of Oral Medicine and Radiology, the communication said.
The action comes after a third-year dental student of the college, Yashaswini, was found hanging at her residence here on Friday.
Family members have accused the college management of harassing her, alleging that she was subjected to humiliation, which drove her to take the extreme step.
She was the only child of her parents, Parimala and Bhudevaiah, police added. According to her mother, Yashaswini had taken leave on Wednesday, citing eye pain.
When she returned to college the following day, she was allegedly humiliated in front of other students for not participating in a seminar, her mother alleged.
Following Yashaswini's death, aggrieved students staged a sit-in protest outside the morgue, demanding action against those responsible.
Police said a case has been registered in connection with the incident, and further investigation is underway.
