Government RBI to take steps to arrest rupee fall : Pranab Mukherjee

NEW DELHI: Concerned over declining Rupee, which fell to an all time-low of Rs

57.37 a dollar, Finance Minister Pranab Mukherjee today said that the government and the Reserve Bank will take steps to arrest the slide of the Indian currency. 

"I have asked the DEA Secretary to discuss Rupee situation with RBI Deputy Governor. DEA Secretary will take step to contain Rupee slide," Mukherjee told reporters here. 

In order to contain exchange rate volatility, the RBI has asked oil marketing companies (OMCs) to purchase half of their dollar requirement from a single public sector bank, like State Bank of India (SBI). 

Nagaland tribes reject package, stick to demand for for state hood

The Eastern Nagaland People's Organisation (ENPO) has rejected a Rs.500-crore development package offered by the Nagaland government in lieu of a separate State demanded by this banner organisation of six tribes inhabiting four eastern districts.

The ENPO said it would stick to its demand for creation of a “Frontier Nagaland,” comprising Tuensang, Mon, Kiphire and Longleng districts, carved out of the State.

“Since all the six tribes passed a resolution on June 12 in Tuensang not to accept any development package or any autonomous or regional council in lieu of a separate State, we did not accept the Rs.500-crore package, for undertaking development projects including Centrally sponsored projects in the four districts, that was offered to us during our meeting with Chief Minister Neiphiu Rio in Kohima on Friday,” ENPO president Pongom told