22 Aug 2013, 23:26 HRS IST
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Cabinet approves amendments to Representation of People Act to negate SC order on immediate disqualification of convicted MPs and MLAs. HDFC raises benchmark lending rate by 0.25 per cent on housing loans. Cabinet clears proposal to set up Judicial Appointments Commission to replace collegium system of appointing judges to higher courts. We do have concerns over human rights violations. Our 3 nationals were killed in Gujarat riots and we want trial and justice for them: UK envoy. Any engagement with Gujarat Chief Minister Narendra Modi is not an endorsement of him, says UK High Commissioner. Will take more measures to curb rupee volatility as and when necessary: Subbarao. India's forex reserves enough to manage current situation: RBI Governor D Subbarao. India has to brace up for consequences of US Federal Reserve's decisions: Chidambaram.Rupee is undervalued and overshooting appropriate levels: FM. We are not targeting any particular level for the rupee; we want a stable currency: FM. Recent measures to quell speculation in rupee will be reversed once stability returns: Chidambaram. Centre rejects Maharastra govt's proposal to ban Abhinav Bharat outfit: Sources. Growth revival is the focus of government; no cause to panic that has gripped currency markets: FM. Rupee ends 44 paise down at new closing low of 64.55 versus US dollar; recovers from 65.56 hit intra-day. Growth to remain flat in the first quarter of current fiscal: Chidambaram. Exploring structural measures to reduce CAD: FM. No intention to introduce capital controls: FM. FM reaffirms commitment to contain fiscal deficit at 4.8 pc of GDP an d CAD at USD 70 billion in 2013-14. No reason for excessive or unwarranted pessimism: FM All emerging market economies appear to be affected by currency volatility: FM. No immediate trigger for changing India's sovereign rating: Fitch The BSE benchmark Sensex closes 407.03 points higher at 18,312.94 Income Tax department conducts countrywide searches on National Spot Exchange Limited members Antony indicates no possibility of survival of any person on board the submarine
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