Top headlines: RBI tries to shore up rupee; DGCA notice to SpiceJet

Union ministers Mukhtar Abbas Naqvi and R C P Singh submitted their resignations to Prime Minister Narendra Modi on Wednesday, a day before the completion of their Rajya Sabha term, sources said.

RBI liberalises norms to boost forex inflows to shore up rupee

Reserve Bank of India (RBI) on Wednesday further liberalised norms to boost inflows of foreign exchange, including doubling the borrowing limit under the ECB route, amid the rupee falling against the US dollar.

In a statement, the central bank said it has been closely and continuously monitoring the liquidity conditions in the forex market and has stepped in as needed in all its segments to alleviate dollar tightness with the objective of ensuring orderly market functioning. Read more

DGCA show cause notice to SpiceJet following spate