Rupee halts 4-day rally on RBI policy eve, down 7 paise

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1.Gujarat Congress in damage-control mode; to repeat all sitting MLAs :-

As a major group, led by the leader of the Opposition Shankarsinh Vaghela, appears likely to join hands with the BJP, Gujarat Congress president Bharatsinh Solanki announced on Tuesday that all sitting MLAs of the party will be repeated in the elections to be held later this year.

Mr. Solanki said the party high command had approved the proposal.

“New appointments in the organisation will be announced when the State-in-charge Ashok Gehlot visits Gujarat on June 9,” he said.

 

2.26 MLAs openly ‘back’ Dhinakaran :-

The ruling AIADMK (Amma) in Tamil Nadu, which has a wafer thin majority of five members in the House, witnessed signs of internal turmoil with around 26 MLAs reportedly expressing solidarity with party deputy general secretary and jailed leader V.K. Sasikala’s nephew T.T.V. Dhinakaran in the past two days.

There is, however, no immediate threat to the government as Mr. Dhinakaran is in no hurry to rock the boat.

 

3.Rocket lands inside Indian Embassy in Kabul, no casualties :-

A rocket landed inside India House, the country’s embassy in Kabul, on Tuesday. There were no reports of any injury, sources in the External Affairs Ministry said.

The rocket landed in the volleyball court of the compound. Besides the Ambassador’s residence, other mission staff also stay on the premises.

“No injury reported so far,” a source in New Delhi said.

The incident happened at 11:15 a.m., according to local reports.

 

4.Rupee halts 4-day rally on RBI policy eve, down 7 paise :-

Snapping its four-day winning run, the rupee on Tuesdayturned weaker by 7 paise to end at 64.43 against the US dollar amid caution ahead of the outcome of the RBI’s bi-monthly policy review meet tomorrow.

Fresh dollar purchases by state-run-banks on behalf of corporate clients and a retreat in local equities after record—setting run also weighed on the forex trade.

The rupee had gained 30 paise over the last four sessions against the American currency.

Meanwhile, geopolitical tensions took on more significance following the shock move by four US Arab allies led by Saudi Arabia to isolate Qatar.

 

5.Sher Bahadur Deuba elected Nepal’s prime minister for fourth time :-

Veteran Nepalese politician Sher Bahadur Deuba was on Tuesday elected as Nepal’s prime minister for the fourth time after the main opposition party decided to end the obstruction of parliament.

Deuba, 70, was the sole candidate to contest in the prime minister election as the main opposition UML or any other party didn’t register their candidacies.

He secured 388 votes in his favour and 170 votes against him. A total of 558 were cast during the voting. He needed 297 votes in the 593-strong Parliament to prove his majority.

 

6.Canara Bank cuts MCLR by 0.05% for various maturities :-

Public sector Canara Bank has cut MCLR rates by 0.05 percentage point for various maturities with effect from Wednesday

“In terms of the guidelines of RBI, all rupee loans sanctioned and credit limits renewed from June 7, 2017 will be priced with reference to the tenor—based MCLR rates are as below”, it said in a regulatory filing.

For overnight, the new MCLR will be 8.10 %, while for one month and three—month maturities new marginal cost based lending rates (MCLR) will be priced at 8.15 % and 8.20 % respectively.

 

7.England vs New Zealand, ICC Champions Trophy 2017: Jos Buttler, Liam Plunkett take hosts into semis :-

Jake Ball was on strike and Tim Southee returned to his mark to bowl the third delivery of the 50th over of the England innings.

Jos Buttler was waiting to be at the other end but that didn’t happen as Ball failed to open his account and the hosts were bowled out for 310. On-song Buttler would have loved to make most of the remaining deliveries but he did the job, an excellent job for his side, towards the end of the innings. Since 2015 World Cup, England’s transformation and intent in limited-overs is no secret and now numbers are stacked in their favour.

 

8.Indian men’s hockey team loses 0-2 to Germany :-

Hosts Germany overpowered the Indian men’s hockey team 2-0 in an action-packed encounter to end its campaign at the three-nations invitational tournament on a winning note in Dusseldorf on Tuesday.

Germany had previously won 2-1 against Belgium, drew 2-2 with India and lost 2-5 to Belgium in their opening match.

They finished with seven points while India earned four points from their outings.

 

9.Russian hackers ‘planted false story’ behind Mideast crisis: US intelligence officials :-

US intelligence officials believe Russian hackers planted a false news story that led Saudi Arabia and several allies to sever relations with Qatar, prompting a diplomatic crisis, a media report said.

FBI experts visited Qatar in late May to analyse an alleged cyber breach that saw the hackers place the fake story with Qatar’s state news agency, the CNN reported.

 

10.’Ministry of Utmost Happiness’ authored by Arundhati Roy launched :-

The book “The Ministry of Utmost Happiness” has been authored by Arundhati Roy, was released recently. It is fiction-based novel and will be published by Hamish Hamilton UK and Penguin India.

Booker prize-winning novel ‘The God of Small Things’ after 20 years, Arundhati Roy has announced the release of her next novel titled “The Ministry of Utmost Happiness”.