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The Indian rupee depreciated to 85.75 against the dollar on Monday, influenced by robust dollar demand from both foreign and domestic banks. Despite a weakening dollar index and gains in other Asian currencies, the rupee's decline was tempered by likely RBI intervention through state-run banks. The rupee traded within a narrow band, impacted by oil companies and importer demand.
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News and Media
The Election Commission's 'Special Intensive Revision' of Bihar's electoral rolls has ignited political debate, differing from past revisions. While intensive revisions aren't new, the timing of Bihar's SIR, months before assembly elections, is unusual. Unlike previous 'de novo' exercises, it builds upon the 2002-03 roll, incorporating new enumeration forms and document submission.
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News and Media
Rural India is experiencing an economic transformation, with a surge in the services sector driving growth. A recent report highlights that 112 rural districts, encompassing 291 million people, have exceeded a $2,000 per capita income. This milestone indicates rising prosperity and significant consumer potential, positioning rural areas as key contributors to India's consumption engine.
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News and Media
The latest Financial Stability Report reveals a mixed bag for Indian household debt, with consumption-driven loans outpacing asset-building loans. While most loans are held by prime borrowers, stress is building in the sub-prime category. Monetary easing is expected to alleviate debt servicing burdens, but the accumulation of debt among lower-rated borrowers warrants close monitoring to ensure financial stability.
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News and Media
Apollo Hospitals' board has approved a major restructuring involving the demerger and consolidation of its pharmacy and digital health units under Apollo Healthtech, which will be listed separately. The move aims to unlock value and enable shareholders to directly own a stake in the restructured Omni-Channel Pharmacy and Digital Health platform.
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News and Media
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