Karnataka Cabinet revokes general consent for CBI probes
Bengaluru: The Karnataka Cabinet has decided to withdraw its general consent for the Central Bureau of Investigation (CBI) to conduct criminal investigations in the state, citing concerns over the alleged misuse of the central investigative agency.
The announcement was made by Karnataka Law Minister HK Patil, who emphasized that the decision stemmed from the state’s dissatisfaction with the CBI’s approach to handling cases.
“We are withdrawing open consent for CBI investigations in Karnataka due to concerns about bias and inefficiency,” Minister Patil stated. He highlighted that in several instances where cases were referred to the CBI, charge sheets had not been filed, leaving many investigations unresolved and in a state of uncertainty.
Addressing speculation that the decision might be linked to recent developments in the Mysuru Urban Development Authority (MUDA) case, Patil clarified, “This is not related to the MUDA case. We have made this decision to prevent the CBI from veering off the right path.”
The move to revoke general consent means that the CBI will now require specific permission from the state government to investigate cases in Karnataka. This decision aligns Karnataka with several other states that have also withdrawn general consent for CBI probes, citing concerns over the agency's perceived partiality and inefficacy.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Rupee rises 10 paise to 92.41/USD; faces risks from rising global tensions
Mumbai (PTI): The rupee appreciated 10 paise to 92.41 against the US dollar in early trade on Friday, even as the USD/INR pair faces risks from rising global tensions, especially the US-Iran conflict.
Forex traders said the rupee is likely to see high volatility intra-day as the deadline for RBI's instructions to banks to curb their overnight positions to USD 100 million closes today.
At the interbank foreign exchange market, the rupee opened at 92.58 against the US dollar, then gained ground to touch 92.41 against the US dollar in initial trade, registering a gain of 10 paise over its previous close.
On Thursday, the rupee settled with a marginal gain of 3 paise at 92.51 against the US dollar.
"An estimated 80–85 per cent of these positions have already been unwound, which means the bulk of this supportive flow is now behind us. In simple terms, the cushion that held the rupee steady is beginning to thin, and this is where the story starts to shift," CR Forex Advisors MD Amit Pabari said.
Pabari further noted that looking ahead, the picture for the rupee appears to be changing. "With most of the NOP-related support now fading and global uncertainties still elevated, the scope for further strength seems limited. USDINR is likely to find a base in the 92.20–92.50 zone, with a gradual move higher towards 93.50–94.00 levels," he said.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was higher by 0.07 per cent at 98.69 as the safe-haven demand has come down after the ceasefire, but as the ceasefire is fragile, the US dollar is getting bids at lower levels.
Brent crude, the global oil benchmark, was trading higher by 0.51 per cent at USD 96.44 per barrel in futures trade, as the ongoing uncertainty over the Strait of Hormuz opening is keeping the oil trade well bid.
Pabari further noted that just as domestic support begins to fade, the global backdrop is turning uneasy again. "The World Bank has flagged that India's growth for FY27, expected at 6.6 per cent, faces risks from rising global tensions, especially the Iran conflict," he said.
According to Pabari, India continues to have strong buffers in the form of forex reserves and a stable banking system, but pressure points are slowly beginning to build.
On the domestic equity market front, the stock markets witnessed a rebound in early trade. The 30-share Sensex jumped 630.08 points to 77,261.73, while the Nifty climbed 203.6 points to 23,978.70.
Foreign Institutional Investors offloaded equities worth Rs 1,711.19 crore on Thursday, according to exchange data.
_vb_63.jpeg)