Newly inducted Minister called to Raj Bhavan, administered oath of office for 2nd time by K'taka Guv
Bengaluru, Aug 4: Newly inducted Karnataka Minister Shankar B Patil Munenakoppa was called to Raj Bhavan and was administered oath for the second time by Governor Thaawarchand Gehlot on Wednesday, as he had taken the oath of office twice and did not read the oath of secrecy, at the official ceremony earlier in the day.
"It is observed that Shankar B.Patil Munenakoppa while taking the Oath of Office and Secrecy as Minister has taken the Oath of Office twice and has not read the Oath of Secrecy. Hence, Shankar B.Patil Munenakoppa was recalled to Raj Bhavan and the Hon'ble Governor of Karnataka administered the Oath of Office and Secrecy once again in the evening," a release from the Raj Bhavan said.
Munenakoppa, a MLA from Navalgunda, is among the new faces inducted into the Chief Minister Basavaraj Bommai-led cabinet.
A week after taking over as the Chief Minister, Bommai on Wednesday afternoon expanded his new cabinet, by inducting 29 Ministers, with Governor Gehlot administering the oath of office and secrecy to them at the Raj Bhavan here.
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Rupee falls 20 paise to 95.43 against US dollar in early trade
Mumbai (PTI): The rupee depreciated 20 paise to 95.43 against US dollar in early trade on Tuesday as market sentiments remained fragile after renewed military exchanges between US and Iranian forces in the Gulf region.
Forex traders said investor anxiety due to instability in the Gulf is causing massive capital flight into safe-haven assets, with the US dollar acting as the primary beneficiary.
Moreover, Brent oil prices is hovering near USD 113 per barrel, maintaining pressure on oil-importing economies like India.
At the interbank foreign exchange market the rupee opened at 95.30 then lost ground to touch 95.43 against the US dollar, in initial trade, registering a fall of 20 paise over its previous close.
Rupee fell 39 paise to close at an all-time low of 95.23 against the US dollar on Monday.
"With oil boiling rupee on Monday fell to a closing low of 95.0875 and this morning the opening was still lower as it becomes more and more vulnerable when dollar index rises due to safe-haven buying and oil prices rise due to the continuous fighting in the Gulf Region," Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said.
The higher oil prices will keep rupee sold off against the dollar as oil companies and FPIs intensify dollar buying, Bhansali added.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 98.51, up 0.15 per cent.
Brent crude, the global oil benchmark, was trading lower by 1.07 per cent at USD 113.22 per barrel in futures trade.
"Market sentiments remained fragile after renewed military exchanges between US and Iranian forces when Iranian forces launched fresh attacks in the Gulf as both sides sought to assert control over the strategic waterway," Bhansali said.
On the domestic equity market front, Sensex declined 361.62 points to 76,907.78 in early trade, while the Nifty dropped 134.90 points to 23,980.60.
Foreign Institutional Investors purchased equities worth Rs 2,835.62 crore on Monday, according to exchange data.
