Mumbai Aug 25 PTI An inquiry commission headed by a retired high court judge on Wednesday imposed a fine of Rs 25000 on former Mumbai Police Commissioner Param Bir Singh for not appearing before it a government lawyer said The commission slapped a fine on Singh for the second time within a week and for the third time so far for his failure to appear before it despite being summoned multiple times The Maharashtra government had in March this year formed a one-member commission of Justice retd Kailash Uttamchand Chandiwal to conduct a probe into corruption allegations levelled by Singh against the then state home minister Anil Deshmukh On August 18 the commission had asked Singh to pay a similar amount of fine for not appearing before it while in June the senior IPS officer was ordered to pay Rs 5000 fine for the same reason The amount was to be deposited in the Chief Ministers COVID-19 Relief Fund The government lawyer said that Singh is yet to pay any of the fines Days after he was shunted out as Mumbai police chief and transferred to the Home Guards in March this year Singh had claimed in a letter to Chief Minister Uddhav Thackeray that Deshmukh used to ask police officers to collect money from the owners of restaurants and bars in Mumbai Deshmukh an NCP leader has been denying the allegations However he stepped down as the home minister in April The Central Bureau of Investigation CBI and the Enforcement Directorate ED are probing the allegations made against Deshmukh by Singh The commission has posted the matter for further hearing on August 30 PTI AVI NP NP

Mumbai Aug 25 PTI The rupee on Wednesday declined by 5 paise to close at 7424 against the US currency due to a stronger dollar in the overseas markets Dollar demand from oil marketing companies and importers also weighed on the rupee analysts said At the interbank foreign exchange market the domestic currency opened marginally down at 7420 and later dropped to a low of 7430 in the day trade On Tuesday the rupee had settled at 7419 against the US dollar Meanwhile the dollar index which gauges the greenbacks strength against a basket of six currencies was trading 004 per cent higher at 9293 Brent crude futures the global oil benchmark fell 015 per cent to USD 7094 per barrel The rupee was dragged down by dollar demand from oil marketing companies and importers Sriram Iyer Senior Research Analyst at Reliance Securities said The unit also weakened amid talks of speculative dollar demand from foreign banks on expectations that the Reserve Bank of India could continue to build up its forex reserves he added Dilip Parmar Research Analyst HDFC Securities said that the forex market is in overly thin market with low volume and volatility which may remain till Monday Surge in crude oil prices in the last two days also weighed on the rupee as Brent crude oil prices rallied around 9 per cent to USD 71 per barrel mark Parmar said Rupee opened on a flat note and the currency has been very resilient to any global uncertainty in the last few sessions Reaction on the currency has been muted despite weaker-than-expected economic numbers that were released from the US Gaurang Somaiyaa Forex Bullion Analyst Motilal Oswal Financial Services said Volatility is also low ahead of the important Jackson Hole Symposium traders said They said investors are awaiting for cues about the scaling back of the easy monetary policy by the US Federal Reserve Anindya Banerjee DVP Currency Derivatives Interest Rate Derivatives at Kotak Securities Ltd said that volatility has become extinct in the USD-INR pair as the RBI continues to absorb dollar flows Going into Jackson Hole meeting starting tomorrow evening we expect USD-INR to remain within a range of 7410-7440 on spot Banerjee said On the domestic equity market front the BSE Sensex ended 1477 points or 003 per cent lower at 5594421 while the broader NSE Nifty advanced 1005 points or 006 per cent to 1663465 Meanwhile foreign institutional investors were net sellers in the capital market on Tuesday as they offloaded shares worth Rs 164491 crore as per exchange data PTI DRR MR

Mumbai Aug 25 PTI The rupee on Wednesday declined by 5 paise to close at 7424 provisional against the US currency due to a stronger dollar in the overseas markets At the interbank foreign exchange market the domestic currency opened flat at 7420 and later dropped to a low of 7430 in the day trade On Tuesday the rupee had settled at 7419 against the US dollar Meanwhile the dollar index which gauges the greenbacks strength against a basket of six currencies was trading 004 per cent higher at 9293 Brent crude futures the global oil benchmark fell 015 per cent to USD 7094 per barrel On the domestic equity market front the BSE Sensex ended 1477 points or 003 per cent lower at 5594421 while the broader NSE Nifty advanced 1005 points or 006 per cent to 1663465 Meanwhile foreign institutional investors were net sellers in the capital market on Tuesday as they offloaded shares worth Rs 164491 crore as per exchange data Rupee market closed tad lower amid a slight pick up in dollar index with a move higher in US Treasuries ahead of Jackson Hole later this week said Dilip Parmar Research Analyst HDFC Securities Surge in crude oil prices in the last two days also weighed on the rupee as Brent crude oil prices rallied around 9 per cent to USD 71 per barrel Parmar said Forex market is in overly thin market with low volume and volatility which may remain till Monday Spot USDINR is expected to stay in range of 7410 to 7450 Parmar added PTI DRR MR MR