On 19th July, the Indian rupee hit an all-time low exchange rate of 80 against the US dollar in early trade. The government said that its value had fallen by 25% since 2014.

Explained: Why the Indian rupee is depreciating

Explained: Why the Indian Rupee is depreciating

Carnelian Asset Management & Advisors aims to increase its asset under management (AUM) to USD 2 billion by March next financial year, notwithstanding the current subdued market sentiment.
The entity, which manages funds of high networth individuals, also plans to expand its reach in seven new cities during the next financial year.
"We hope to touch AUM of USD 1.2 billion by this month end and USD 2 billion by the end of next financial year," Carnelian Asset Management & Advisors founder Swati Khemani told PTI.
Asked if the subdued market sentiment has impacted fund flow, she said, most of the investors feel that this is a temporary phenomenon and it should be corrected during the course of next financial year.
Most investors of Portfolio Management Services and Alternate Investment Funds are having deep pockets and their investment horizon is medium to long-term.
To attract overseas money, Khemani said, Carnelian Asset Management & Advisors has set up an office in GIFT ...

The entity, which manages funds of high networth individuals, also plans to expand its reach in seven new cities during the next financial year

State-owned Engineers India and MECON as well as four private entities are in the fray for the project to comprehensively revamp RBI's currency management infrastructure in order to cater to future cash needs of the country's fast growing economy.
The four private entities are: Accenture Solutions; Colliers International (India) Property Services; PricewaterhouseCoopers and The Boston Consulting Group (India).
The RBI had earlier invited expression of interest (EoI) for 'Procurement of Consultancy and Project Management Services for Modernisation of Currency Management Infrastructure in India'. The central bank had received responses from 11 entities.
After evaluating the responses, RBI said it has shortlisted six entities for issuance of Request for Proposal (RFP), according to an official document.
According to the EoI document, the RBI proposes creation of greenfield currency management centres, the introduction of warehouse automation, the installation of security and surveilla

After evaluating the responses, RBI said it has shortlisted six entities for issuance of Request for Proposal (RFP), according to an official document

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Union Minister Ashwini Vaishnaw on Saturday announced that an electronics component technology for the ambitious Hyperloop project, developed by IIT-Madras, will be built at the Integral Coach Factory (ICF) in Chennai.
After his visit to the Hyperloop testing facility at IIT Madras' Thaiyur campus, Vaishnaw, who holds the portfolios for Information and Broadcasting, Electronics and Information Technology, said the 410-meter-long Hyperloop test tube is the longest of its kind in Asia.
The entire Hyperloop testing system has been developed using indigenous technologies, with encouraging results from the tests conducted so far. India is on the brink of introducing Hyperloop transportation, he added.
Tutr Hyperloop, a deep-tech startup incubated at IIT Madras, is preparing to launch the world's first commercial Hyperloop project in India, aligned with the Centre's Atmanirbhar Bharat and Viksit Bharat 2047 goals.
Vaishnaw congratulated the project team and said the Ministry of Railways 

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Explained: Why the Indian Rupee is depreciating

On 19th July, the Indian rupee hit an all-time low exchange rate of 80 against the US dollar in early trade. The government said that its value had fallen by 25% since 2014.

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