Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
CO-PRESENTED BY
LIVE TV DownloadNews18 App
News18 English
272
nda:
Needmore seats to Win
Needmore seats to Win
upa:
»
2-min read

RBI Should Play its Role More Actively: RSS-affiliated Swadeshi Jagran Manch on Rupee Fall

Discussing RBI Governor Urjit Patel's remarks that the domestic currency is still better than its emerging market peers, SJM co-convener Ashwani Mahajan said the Central Bank needs to play its role more actively.

PTI

Updated:October 9, 2018, 4:49 PM IST
facebookTwittergoogleskypewhatsapp
RBI Should Play its Role More Actively: RSS-affiliated Swadeshi Jagran Manch on Rupee Fall
File photo of RBI headquarters in Mumbai. (Reuters)
New Delhi: "Extremely concerned" over the continuous fall in the rupee, the Swadeshi Jagran Manch is organising a round table to deliberate on the issue, a co-convener of the RSS-affiliated group said Tuesday and asserted that the RBI should play a proactive role in checking the decline.

Various economists, including Economic Advisory Council to the Prime Minister (PMEAC) member Prof Rathin Roy, have been invited for the round table on 'True value of rupee' on October 13, said SJM co-convener Ashwani Mahajan.

"We are extremely concerned over the continuous fall in rupee. The economists, who are at important positions in the government should not take it lightly, as eventually this fall in the currency increases burden on the common man," Mahajan told PTI.

Discussing RBI Governor Urjit Patel's remarks that the domestic currency is still better than its emerging market peers, Mahajan said the Central Bank needs to play its role more actively.

Economists working in the government should be cautious before making any statements on the rupee, Mahajan said, in an apparent reference to Niti Aayog Vice-Chairman Rajiv Kumar's remarks that the rupee should find its fair value.

However, Mahajan did not name him.

"It is wrong to say the rupee is over valued, it is not at all over valued. On the contrary, such statements from important voices in the government affects the sentiment in the market," he said.

Last week, while addressing a press conference after announcing RBI's fourth bi-monthly policy, Patel had said the value of rupee is determined by market forces and the RBI does not have any "target or band" around any particular level of the exchange rate.

Chartered Accountant Swaminathan Gurumurthy, who has been associated with the SJM, is a non-official director on the RBI board.

According to Mahajan, all the issues related to the fall in rupee, including RBI's stand on it, will be discussed at the round table organised later this week, for which the organisation has invited economists and policy makers from across the spectrum.

The rupee Tuesday hit a new record low of 74.27 against the US dollar in afternoon trade.
(Get detailed and live results of each and every seat in the Lok Sabha elections and state Assembly elections in Andhra Pradesh, Odisha, Arunachal Pradesh and Sikkim to know which candidate/party is leading or trailing and to know who has won and who has lost and by what margin. Our one-of-its-kind Election Analytics Centre lets you don a psephologist’s hat and turn into an election expert. Know interesting facts and trivia about the elections and see our informative graphics. Elections = News18)
Read full article
Next Story
Next Story

Also Watch

facebookTwittergoogleskypewhatsapp
 
 
Most Active
Company Price Change %Gain
SBI 342.20 0.32
Reliance 1,333.90 -0.48
IndusInd Bank 1,598.75 5.26
HDFC Bank 2,332.10 -3.06
ICICI Bank 410.85 1.36
Company Price Change %Gain
Reliance 1,335.80 -0.37
Larsen 1,475.70 1.04
SBI 342.30 0.43
Yes Bank 139.80 1.53
Adani Enterpris 161.30 2.12
Top Gainers
Company Price Change %Gain
Adani Ports 407.55 5.60
Zee Entertain 360.45 5.33
IndusInd Bank 1,598.75 5.26
Grasim 886.55 3.41
Cipla 564.75 2.12
Company Price Change %Gain
IndusInd Bank 1,596.85 5.23
Coal India 244.05 1.56
Yes Bank 139.80 1.53
Hero Motocorp 2,739.65 1.51
Power Grid Corp 184.45 1.29
Top Losers
Company Price Change %Gain
Vedanta 157.35 -5.38
Eicher Motors 20,321.15 -4.26
ITC 288.20 -3.85
Hindalco 191.75 -3.16
HDFC Bank 2,332.10 -3.06
Company Price Change %Gain
Vedanta 157.25 -5.53
ITC 288.50 -3.69
HDFC Bank 2,334.35 -2.94
Tata Motors 175.00 -2.48
Bajaj Finance 3,377.95 -2.02

Live TV

Countdown To Elections Results
  • 01 d
  • 12 h
  • 38 m
  • 09 s
To Assembly Elections 2018 Results