Nitish meets Guv after cabinet authorises CM to recommend dissolution of assembly
Patna (PTI): The last cabinet meeting of the outgoing NDA government in Bihar on Monday “authorised” Chief Minister Nitish Kumar to recommend dissolution of the assembly, official sources said.
A resolution to this effect was unanimously passed in the meeting chaired by Kumar, which lasted for 10 minutes, they said.
“The CM met Governor Arif Mohammad Khan soon after the meeting to apprise him about the decision of the cabinet. On November 19, Kumar will submit his resignation to the Governor as head of the outgoing government,” one of the sources said.
In the recent assembly polls, the NDA bagged more than 200 seats in the 243-member House, with the BJP winning the maximum number of 89 seats, followed by the JD(U)’s tally of 85.
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Rupee falls 9 paise to all-time low of 90.58 against US dollar in early trade
Mumbai (PTI): Rupee depreciated 9 paise to an all-time low of 90.58 against US dollar in early trade on Monday, weighed down by uncertainty over an India-US trade deal and persistent foreign fund outflows.
Forex traders said rupee is trading with a negative bias as investors are in wait and watch mode and awaiting cues from the India-US trade deal front.
At the interbank foreign exchange market, the rupee opened at 90.53 against the US dollar, then fell further to an all-time intraday low of 90.58 against the greenback, registering a fall of 9 paise over its previous close.
On Friday, the rupee had slipped 17 paise to close at an all-time low of 90.49 against the American currency.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.05 per cent lower at 98.35.
Brent crude, the global oil benchmark, was trading higher by 0.52 per cent at USD 61.44 per barrel in futures trade.
On the domestic equity market front, the 30-share benchmark index Sensex was trading 298.86 points lower at 84,968.80, while the Nifty was down 121.40 points at 25,925.55.
Foreign Institutional Investors sold equities worth Rs 1,114.22 crore on Friday, according to exchange data.
"FPIs continue to be in selling mode in equity and debt while RBI has been selling dollars to fund their long positions," said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP.
