Business

According to Association of Mutual Funds in India (Amfi) data, the asset under management (AUM) of the industry, comprising 41 active players, stood at Rs 22.06 lakh crore at the end of September, as compared to a record Rs 25.20 lakh crore in August-end.

On Friday, the rupee had lost 18 paise to end at record low of 73.76 after collapsing to a life-time low of 74.23 (intra-day) after the RBI unexpectedly kept the policy rate unchanged.

The government so far has auctioned 50 mines, including 23 limestone, 17 iron ore, 4 gold, 2 each of manganese and graphite blocks and one bauxite and diamond block each.

The rupee plunged to a new low of 73.81 against the dollar, while the international benchmark Brent crude breached the US 86 per barrel level, nearing its four-year high.

In its latest annual report on Wednesday, the World Bank said Olive Health Care and Jay Modi from India have been debarred from for their fraudulent and corrupt practices.

The company's shares rose 15 percent before the opening bell. The stock has more than halved since Flannery took the top job in August last year.

Of the total, government-backed BHIM UPI registered 16.33 million transactions worth Rs 7,064.86 crore in September compared to 16.5 million transactions (totalling Rs 6,872.57 crore) in the previous month.

Earlier in July, China reduced import tariffs on a range of consumer items including apparel, cosmetics, home appliances, and fitness products to fulfil pledges to further open China's consumer market.

The reasons for the collapse were not immediately clear but it appears that rumours may have triggered the slide.

The 30-share Sensex, which lost 327.89 points in the previous two sessions, recovered by 181.95 points, or 0.50 per cent, to 36,506.12.

The company was unable to service its obligations in respect of bank loans (including interest), term deposit and short term deposit, it said in a regulatory filing.

The BSE Sensex tumbled 109.79 points to 36,542.27, and the broader NSE Nifty shed 13.65 to close at 11,053.80.

If the RBI does raise rates, it would be the latest in a series of emerging market central banks that have been pressured into tightening policy in response to a tumbling currency.

As many as 13.97 lakh new members joined the health insurance scheme run by the ESIC in July this year, which is the highest in any month since September 2017, a report of the Central Statistics Office said.

Michael Kors, whose roots are in the United States but which is headquartered in London, could announce a deal as soon as this week, said the reports, which cited unnamed sources.

India is the third largest importer of crude oil and rising international crude oil prices are inflating domestic transport fuel rates in a strong demand environment.