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Both Patel and Das, to be sure, had assumed office only after the RBI adopted flexible inflation targeting with a midpoint goal as its formal monetary policy objective. Raghuram Rajan, who preceded Patel, had raised rates in his first policy action after taking over as he had to deal with a weak external sector and drying capital inflows, among others.
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In March, the regulator had introduced the beta version of T+0 (same day) settlement cycle on optional basis in addition to the existing T+1 settlement cycle in equity cash market, for a limited set of 25 scrips and with a limited number of brokers. To begin with, it was available only to non-custodian clients.
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The IT index gained 0.8% and closed at record levels while the benchmark Nifty closed marginally lower. LTI Mindtree and Mphasis gained 3% and 2.4% respectively. Persistent Systems, HCL Technologies, Wipro and Infosys advanced over 1% each. Out of the 10 stocks in the IT Index, 8 advanced while 2 declined on Tuesday.
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Systematic investment plans (SIP) stayed stable even as total flows to growth-oriented funds shrank 14%, to 35,943 crore, from October's 41,887 crore.
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Following the fall of Sheikh Hasina's government, Bangladesh has witnessed a surge in Islamic radicalism. Around 1,500 secular symbols, including sculptures and cultural institutions, were vandalised between August 5 and 14. The Indian Cultural Centre in Dhaka was also burnt down.
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News and Media
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