Nitish to be elected as NDA leader in Bihar on Wednesday
Patna (PTI): JD(U) supremo Nitish Kumar is set to be elected as the leader of the NDA in Bihar on Wednesday, ahead of the formation of the new government under his leadership in the state on November 20, a party leader said.
Kumar, who will take oath as Bihar CM for a record 10th time at Patna's historic Gandhi Maidan on Thursday, will be first elected as leader of the JD(U) legislature party and then the leader of the NDA during a meeting of the constituents of the five-party alliance, he said.
Talking to PTI Video, JD(U) working national president Sanjay Jha said, "Nitish Kumar will be first elected as leader of our legislature party on Wednesday. After that, he will be elected as NDA leader by the newly elected MLAs of all alliance partners."
Kumar will meet Governor Arif Mohammad Khan in the evening, requesting him to initiate the process for the formation of the new government, the JD(U) leader said.
He will also tender his resignation to the governor as the head of the outgoing government, another JD(U) leader said.
Kumar will also submit a letter of support from all NDA constituents to the governor for the formation of the new government, he said.
The current assembly will be dissolved on Wednesday, he said.
Several ministers will also take the oath along with the CM on Thursday.
Prime Minister Narendra Modi, Union Home Minister Amit Shah, several other union ministers and CMs of NDA-ruled states are expected to attend the swearing-in ceremony.
A large number of security personnel have been deployed in the state capital and around Gandhi Maidan, officials said.
The NDA stormed back to power in Bihar, winning 202 seats in the 243-member assembly, with BJP bagging 89, JD(U) 85, LJP(RV) 19, HAM 5 and RLM 4.
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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.
