Business

The SpiceJet offer, which was announced on Tuesday, is valid till midnight on Thursday and tickets can be booked for travel between July 1 and October 15.

The expectations from the new government when it came to power in 2014 were "probably unrealistic" but it has taken steps to create an environment for investment and is "sensitive" to concerns of investors, RBI Governor Raghuram Rajan has said.

The rupee had recovered by five paise to close at 63.67 against the US currency in the previous session.

The Indian rupee opened with marginal loss of 8 paise at 63.79 per dollar against previous close of 63.71.

"Seven out of ten, according to Assocham, is the right score for the Narendra Modi government on completion of first year in office," the chamber said.

Buying peace with RBI, the government on Thursday dropped plans for the time being to strip the central bank of powers to regulate government bonds and give it to an independent agency.

Dealers said a lower opening in the domestic equity markets also weighed on the Indian currency.

As a point of comparison, a 2013 survey had found that fewer than 400 million people in the country had an account, the Bank said in a report.

The rupee opened slightly lower at 62.33 per dollar at the Interbank Foreign Exchange (Forex) market as against the last closing level of 62.30, and hovered in a tight range of 62.30 and 62.39 before concluding at 62.36 per dollar, showing a loss of 6 pai...

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"India's growth is expected to strengthen from 7.2 per cent in 2014 to 7.5 per cent in 2015. Growth will benefit from recent policy reforms, a consequent pick-up in investment, and lower oil prices," the IMF said in its latest World Economic Outlook.

Country's industrial production grew at a nine-month high of 5 per cent in February on improved mining and manufacturing activity, equity brokers said.

A benchmark index of Indian equities markets, the 30-scrip Sensitive Index (Sensex), made healthy gains during Wednesday's session to provisionally close the day's trade 303 points or 1.08 per cent up.

However, the prices of both products are higher in India when compared with other South Asian countries like Pakistan, Sri Lanka and Nepal.

About 1123 shares advanced, 1714 shares declined and 195 shares were unchanged.