CCS reviews West Asia situation, directs steps to assist stranded Indians
New Delhi (PTI): The Cabinet Committee on Security (CCS) has reviewed the evolving situation in West Asia and directed all concerned departments to take necessary and feasible measures to assist Indian nationals affected by the developments.
The CCS, which met last evening under the chairmanship of Prime Minister Narendra Modi, also underscored the importance of an early cessation of hostilities and a return to dialogue and diplomacy.
An official statement said the CCS met to review the evolving situation in West Asia, and was briefed on the air strikes in Iran on February 18 and the subsequent escalation, including attacks in several Gulf countries.
"It expressed serious concern over the safety and security of the large Indian expatriate community in the region," the statement said.
The CCS also reviewed the difficulties faced by Indian travellers transiting the region and students appearing for scheduled examinations, as well as the broader implications for regional security and economic, and commercial activities.
"The CCS directed all concerned departments to take necessary and feasible measures to assist Indian nationals affected by the developments. It underscored the importance of an early cessation of hostilities and a return to dialogue and diplomacy," the statement said.
The CCS meeting was also attended by National Security Advisor Ajit Doval, Principal Secretaries to the Prime Minister P K Mishra and Shaktikanta Das, Chief of Defence Staff General Anil Chauhan, Cabinet Secretary T V Somanathan, and Foreign Secretary Vikram Misri.
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Rupee falls 21 paise to 91.29 against US dollar in early trade
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Mumbai (PTI): The rupee depreciated 21 paise to 91.29 against the US dollar on Monday, amid higher crude oil prices, a strong American currency and intense global volatility due to the escalated Middle East tension.
Negative equity market sentiment and massive withdrawal of foreign funds also weighed on the Indian currency, forex traders said.
At the interbank foreign exchange, the rupee opened at 91.23 and declined further to 91.29 against the greenback in initial deals, trading 21 paise down from its previous closing level.
On Friday, the rupee lost 17 paise to settle at 91.08 against the dollar.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.22 per cent higher at 97.78.
Brent crude, the global oil benchmark, was up 3.91 per cent at 76.78 per barrel in futures trade.
Analysts said that crude prices soared after the US and Israel launched military strikes against Iran.
In the latest strike, the US and Israel forces pounded targets across Iran on Sunday, dropping massive bombs on the country's ballistic missile sites and wiping out warships. The attack was intensified after the killing of Iran's Supreme Leader Ayatollah Ali Khamenei.
Experts say that India faces the risk of a sharp increase in its import bill with the rising crude prices in the international market as the country's 85 per cent fuel requirement is met through imports.
On the domestic equity market front, the Sensex tumbled 691.47 points or 0.85 per cent to 80,595.72, while Nifty tanked 240.95 points or 0.96 per cent to 24,937.70 in early trade.
On Friday, foreign institutional investors offloaded equities worth Rs 7,536.36 crore, according to exchange data.
According to the government data released on Friday following a revamp of the GDP calculation framework, the country's economic growth has been projected at 7.6 per cent in the currency fiscal.
The latest RBI data released on Friday showed India's forex reserve dropped by USD 2.119 billion to USD 723.608 billion during the week ended February 20. The overall reserves had jumped by USD 8.663 billion to an all-time high of USD 725.727 billion in the previous reporting week.
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