Business

Foreign portfolio investors (FPIs) had pulled out over Rs 21,000 crore from the capital markets (both equity and debt) in September. Before that, they had put in Rs 7,500 crore in July and August.

Pharma and information technology shares tumbled due to stronger rupee which rose 50 paise to 72.17 against the US dollar (intra-session) in late afternoon trade. It scaled a high of 71.99 at the outset.

Flipkart's employees said they did not have even an inkling of the allegations until the resignation. 'Generally even the slightest of news reaches the office floor. But regarding this, we had no clue. None of us,' one said.

Finance Minister Arun Jaitley says the motive behind banning old Rs 500 and Rs 1,000 currency notes was to formalise the economy.

The dollar's weakness against some currencies overseas and a better opening of the domestic equity market also supported the rupee, dealers said.

The buying during the morning trade remained subdued, but it picked up later as eager shoppers indulged in token buying, while some took delivery of their wedding jewellery. There was more demand for coins compared to jewellery.

While historically there have been differences between the RBI and the nation's governments, the extent of the rift and its public nature are unprecedented.

The DEA, in a letter to the Ministry of Corporate Affairs, described the financial situation as "still fragile" when discussing the financial stability impact of the Infrastructure Leasing and Financial Service Ltd's (IL&FS) default, the website said

Rumours are rife that RBI Governor Urjit Patel might offer to resign if Section 7 of RBI Act is invoked to transfer reserves.

IndusInd Bank, Reliance Industries, Coal India, Tata Steel, TCS, ITC, NPTC and L&T were among the top losers, falling up to 2 per cent.

The perception, that institutions which safeguard the nation, its security and economy, are under threat, is gaining ground and this is what has kept RBI autonomy issue on the boil.

After a positive opening, shares of the company further soared 9.18 per cent to Rs 344 on BSE.

As per the financial results submitted by the bank to stock exchanges, Yes Bank's total income in the latest September quarter rose to Rs 8,704.68 crore from Rs 6048.78 crore in the same period a year ago.

On Monday, the rupee had settled 24 paise lower at 73.56 against the US dollar due to steady capital outflows and strengthening of the American currency.

At the Interbank Foreign Exchange, the rupee opened lower at 73.36 and dipped further to 73.38 but soon recovered the lost ground and rose to 73.24 on increased selling of the American currency by exporters and banks.

In terms of the equity volume, 34.77 lakh shares of the company were traded on the BSE and over 3 crore shares changed hands on the NSE during the day.