Business

The losses in 2013-14 alone amounted to 1,500 crore rupees.

Domestic stocks took on more strength on positive cues from Europe as the benchmark Sensex rallied nearly 102 points to hit a three-week high of 28,179 ahead of a crucial meeting between the government and top management of banks on NPAs.

A sustained demand for the US dollar from importers and banks pushed the rupee lower by 3 paise to 66.92 on Monday, which slid for the third continuous day.

Falling for the second-straight session, the rupee on Friday depreciated by 8 paise to end at 66.89 against the US dollar due to increased demand for the American currency from importers and state-owned banks.

Finance Minister Arun Jaitley on Friday said the government has sought a detailed report on the extent of debit card data compromise following the biggest security breach.

Promising swift action on the debit card data compromise issue, Economic Affairs Secretary Shaktikanta Das on Friday said there is no need to panic over the feared security breach that affected over 32 lakh cards.

The rupee fell further by 13 paise to 66.94 against the dollar in early trade on Thursday at the Interbank Foreign Exchange market on increased demand for the American currency from importers.

Global food and nutrition giant Nestle on Thursday said Maggi noodles in India has reported sustained recovery, regaining market share in the country almost a year after it was relaunched following a five-month ban in 2015.

The rupee on Thursday got off to a bumpy start as it tumbled 3 paise to 66.71 against the US dollar after demand for the American currency from importers went up.

The Centre and states on Wednesday failed to decide the tax rate under the new GST regime even though they "converged towards a consensus" on levying a cess in addition to the highest rate of tax on luxury and sin goods.

Remaining in the negative for the second month in a row, industrial production contracted by 0.7 percent in August due to slump in manufacturing, mining and capital goods segments.

old and silver prices continued to fall for the fifth day at the bullion market on Friday on persistent offerings from stockists in view of sustained fall in the global markets.

Forex dealers said the strength in dollar against some other currencies overseas and a lower opening in the domestic equity market weighed on the rupee.

A fall in dollar against major world currencies globally, after the US Federal Reserve decided against lifting interest rates, also helped the rupee gain strength, dealers said.

Rupee edged higher by 3 paise to 66.98 against the dollar in early trade on Wednesday at the Interbank Foreign Exchange on fresh selling of the US currency by banks and exporters.

The rupee had settled almost flat at 66.96 against the American currency in a highly volatile trade on Monday, ahead of a crucial US Fed meeting.