Rupee falls 2 paise to near all-time low of 84.85 against US dollar in early trade
Mumbai (PTI): The rupee fell 2 paise to near all-time low of 84.85 against the US dollar in early trade on Thursday on the back of foreign fund outflows and rising crude oil prices.
An elevated dollar index and muted domestic equity markets weighed on the Indian currency even as investors were awaiting cues from domestic inflation data to be released later in the day, forex traders said.
At the interbank foreign exchange, the rupee opened at 84.85 against the greenback, registering a fall of 2 paise over its previous close.
On Wednesday, the rupee settled with a gain of 2 paise at 84.83 against the US dollar.
The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading marginally lower by 0.12 per cent at 106.26.
Brent crude, the global oil benchmark, rose 0.12 per cent to USD 73.61 per barrel in futures trade.
On the domestic equity market front, the 30-share benchmark index Sensex was trading with a marginal gain of 53.59 points, or 0.07 per cent at 81,579.73 points. The Nifty inched up 2.10 points, or 0.01 per cent, to 24,643.90 points. Both the indices ended Wednesday's session with marginal gains.
Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Wednesday, as they offloaded shares worth Rs 1,012.24 crore, according to exchange data.
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Karnataka: GBA city corporation polls likely between June 14 and 24
Bengaluru (PTI): Karnataka State Election Commissioner G S Sangreshi on Friday said elections to the five city corporations under the GBA will be held anytime between June 14 and June 24.
He said the exact date for the polls will be announced after a week, asserting that the power to postpone the elections, as requested by GBA authorities, lies with the Supreme Court.
The Supreme Court had directed the Karnataka government and the State Election Commission to conduct Bengaluru local body elections by June 30.
On Friday, the SEC held a consultation meeting with the GBA Chief Commissioner and commissioners of the five city corporations regarding the election schedule, as per the provisions of the GBA Act.
“During the meeting, I informed GBA officials that only the election date has to be fixed, as all other measures and formalities for conducting the polls have already been completed,” Sangreshi said.
“They requested the Commission to consider factors such as rains, exams, census work, SIR, and manpower shortages while fixing the date and sought additional time,” he added.
Speaking to reporters after the meeting, he said, “I told them this meeting was not for seeking time. Elections to the five corporations under the GBA must be held before June 30, as directed by the Supreme Court, and a compliance report must be submitted to the court. I do not have the power to postpone the elections as requested.”
The Supreme Court has already given a “final opportunity,” and both the SEC and the government must comply with its directions, the State Election Commissioner said.
He asked GBA officials to suggest suitable dates between June 14 and June 24.
“While stating that they are ready for elections, the officials highlighted operational challenges, including manpower shortages. However, I have informed them that the elections will have to be held between June 14 and June 24. After a week, I will announce the final date,” he said.
Reiterating that he does not have the power to postpone the elections, Sangreshi said the authority rests with the Supreme Court, and elections must be conducted as scheduled.
“We have consulted the GBA as per the rules. It is up to them to suggest a date within the given window. If they need more time, they must approach the court. Our responsibility is to fix the date and complete the polls before June 30,” he said.
The matter regarding manpower and other concerns raised by GBA officials is already before the Supreme Court, and the State Election Commission has also filed a petition in this regard. The case is yet to be heard.
“Since the matter has not come up for hearing, the earlier order remains binding. Therefore, preparations are underway,” he added.
The tenure of the previous elected body under the erstwhile Bruhat Bengaluru Mahanagara Palike (BBMP) ended on September 10, 2020, and since then, a government-appointed administrator has been managing its day-to-day affairs.
Bengaluru was divided into five municipal corporations—Central, East, West, North, and South—under the Greater Bengaluru Authority in September 2025, replacing the BBMP.
Sangreshi had earlier said that elections to the five corporations would be conducted using ballot papers instead of Electronic Voting Machines.
This follows the Congress government’s decision last September to recommend the use of ballot papers in all future panchayat and urban local body elections, citing concerns over declining public confidence in EVMs.
The state government subsequently enacted the Karnataka Gram Swaraj and Panchayat Raj (Amendment) Act, 2026, paving the way for the use of ballot papers in local body elections.
