Business

The Indian rupee opened with a gap down of 7 paise at 63.57 per dollar against previous close of 63.50.

Markets regulator Sebi is working on a new policy for orderly winding down of depositories.

The Indian rupee gained further in early trade on Friday as it opened marginally higher by 7 paise at 63.32 per dollar.

The rupee in a volatile trade on Monday ended higher by 4 paise to 63.40 against the US currency.

All the banknotes in the denomination of Rs 100 issued by the RBI in the past will continue to be legal tender, it said.

Sentiments turned positive following revival of buying by participants after trade deficit narrowed to $10.4 billion in May against $11.2 billion in the same month a year ago, equity brokers said.

Jet Airways on Monday said it has lowered its business class fares by 25 per cent for travel on its domestic network with a three day booking window period.

Raghuram Rajan in 2014 had warned banks against creating a liquidity squeeze at the year-end by ceasing to lend to each other "to build a certain kind of balance sheet".

"Your favorite pair of jeans teamed with that t-shirt you love can now be worn every day, going forward," an email sent by Infosys to its employees read.

Beside the nation-wide strike call, unions of associate banks - under SSBEA - have also called for a strike on June 4 in their respective cities pressing for their demands.

In order to address concerns of the manufacturing states, the GST Constitution Amendment Bill has provided for an additional one per cent tax for a period of two years.

Finance Minister Arun Jaitley on Monday asked taxmen to squeeze the parallel economy but gave an assurance that while doing so honest taxpayers may have nothing to fear about the new black money law.

Across South Asia, the expansion is expected to be driven by buoyant household consumption and a gradual recovery in investment.

ICICI (IBN.N), which is also traded in New York, said the Shanghai branch got regulatory approval in March 2015.

Oil prices held steady on Friday near 2015-highs reached the session before, remaining on track for weekly gains after renewed air strikes in Yemen stoked concerns on the security of Middle East oil shipments.

Dealers said a lower opening in the domestic equity markets also weighed on the Indian currency.