The Troubled Rupee
RBI likely sold dollars after rupee hit record low of 59.93 - dealers
The Reserve Bank of India (RBI) likely sold dollars via state-run banks after the rupee slid to a record low on Thursday, several dealers said, as fears of foreign outflows from India are roiling domestic bond and stock markets. Full Article | Related Story
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Kingfisher Airlines says flying permit expiry not a problem
NEW DELHI |
NEW DELHI (Reuters) - Kingfisher Airlines said expiration of its operating licenses, set for Monday, was not a cause for concern as the grounded Indian carrier has two years to renew the license and permits required to fly.
"Despite the impending expiry of its license tonight, there is no cause for concern as the regulations permit license renewal within two years of expiry," the company said in a statement.
It also added that it was "confident" of securing approval from the Directorate General of Civil Aviation (DGCA) to re-start operations and that it was in the process of replying to concerns raised by the regulator.
(Reporting by Anurag Kotoky; Writing by Arup Roychoudhury; Editing by Frank Jack Daniel)
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