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The rupee fell 7 paise to trade at 84.47 against the US dollar in early trade on Thursday weighed down by a muted trend in domestic equities and strength of the American currency in the overseas markets. <keyword id="20024982" type="General" weightage="20" keywordseo="Forex-traders" source="keywords">Forex traders</keyword> said the latest <keyword id="20064878" type="General" weightage="20" keywordseo="Federal-Open-Market-Committee" source="keywords">Federal Open Market Committee</keyword> (FOMC) minutes reveal a significant shift in the Federal Reserve's outlook. The Fed is likely to put downward pressure on short-term interest rates, reducing the appeal of dollar-denominated assets and contributing to the decline in the Dollar Index. At the interbank foreign exchange, the rupee opened at 84.45 and moved in a tight range and touched 84.47 against the greenback, registering a fall of 7 paise over its previous close. On Wednesday, the rupee depreciated by 11 paise to close at 84.40 against the US dollar. "The 84.50 level remains a strong support for the USD/INR pair. <keyword id="23456490" type="General" weightage="20" keywordseo="RBI-interventions" source="keywords">RBI interventions</keyword>, coupled with anticipated capital inflows -- such as Godrej Properties' Rs 4,000 crore QIP and Univest's USD 16 million capital raise -- are expected to support the rupee further," CR Forex Advisors MD Amit Pabari said. Pabari further added that the USD/INR pair is likely to encounter resistance near the 84.50 mark, with expectations of trading within the 83.80 to 84.50 range, showing a slight downward bias. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading higher by 0.14 per cent at 106.22. Brent crude, the global oil benchmark, fell 0.18 per cent to USD 72.70 per barrel in futures trade. In the domestic equity market, the 30-share BSE Sensex rose 68.21 points or 0.09 per cent to 80,302.29 in morning trade, while Nifty was up 34.20 points or 0.14 per cent to 24,309.10 points. Foreign Institutional Investors (FIIs) infused Rs 7.78 crore in the capital markets on a net basis on Wednesday, according to exchange data. SEE ALSO:<a href="https://www.businessinsider.in/business/auto/news/honda-activa-e-and-qc1-electric-scooters-unveiled-in-india-to-go-on-sale-in-2025/articleshow/115725242.cms" target="_self"></a> <a href="https://www.businessinsider.in/business/auto/news/honda-activa-e-and-qc1-electric-scooters-unveiled-in-india-to-go-on-sale-in-2025/articleshow/115725242.cms" target="_self">Honda Activa e and QC1 electric scooters unveiled in India, to go on sale in 2025</a><a href="https://www.businessinsider.in/tech/news/indias-pc-market-reaches-new-high-with-4-49-million-shipments-in-q3-2024/articleshow/115719599.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/indias-pc-market-reaches-new-high-with-4-49-million-shipments-in-q3-2024/articleshow/115719599.cms" target="_blank">India’s PC market reaches new high with 4.49 million shipments in Q3 2024</a><a href="https://www.businessinsider.in/tech/mobile/news/realme-gt-7-pro-with-snapdragon-8-elite-chipset-launched-starting-at-59999/articleshow/115689685.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/realme-gt-7-pro-with-snapdragon-8-elite-chipset-launched-starting-at-59999/articleshow/115689685.cms" target="_blank">Realme GT 7 Pro with Snapdragon 8 Elite chipset launched starting at ₹59,999</a>

Rupee falls 7 paise to 84.47 against US dollar in early trade

An internal committee of the <keyword id="19903456" type="General" weightage="20" keywordseo="Income-Tax-Department" source="keywords" meta.keywordsubtype="org" meta.entityname="Income Tax Department" meta.hostid="153" meta.entityid="Income Tax Department">Income Tax Department</keyword> will review the 1961 <keyword id="22868046" type="General" weightage="20" keywordseo="direct-tax-law" source="keywords">direct tax law</keyword> to eliminate redundant clauses, and adopt best global practices to simplify it for taxpayers for better compliance, <keyword id="19980145" type="General" weightage="20" keywordseo="CBDT" source="keywords">CBDT</keyword> chief Ravi Agrawal has said. The panel, comprising income tax (IT) officials from across the country, has started working on identifying areas of improvement in the Income Tax Act, 1961, he said, and added that the exercise is being conducted under a central government-mandated comprehensive review of the law, which was mentioned by FM Nirmala Sitharaman in the recent <keyword id="19936553" type="General" weightage="20" keywordseo="budget" source="keywords">budget</keyword> presented on July 23rd, 2024. <keyword id="19942037" type="General" weightage="20" keywordseo="Central-Board-of-Direct-Taxes" source="keywords" meta.keywordsubtype="org" meta.entityname="Central Board of Direct Taxes" meta.hostid="153" meta.entityid="Central Board of Direct Taxes">Central Board of Direct Taxes</keyword> (CBDT) chairman Agrawal said the committee is looking at the best global practices that can be adopted, as well as cutting redundancies in the existing law and finding those clauses that have reached their sunset, and hence, can be eliminated. "An internal committee of competent officers of the department from all across the country has been formed. They have started working on identifying areas of improvement. This is a work in progress," he told PTI on Wednesday during an event to mark 165 years of income tax in India. He said the committee is looking at the "problem statement" given to it in the recent Budget. It is trying to find the "best way forward" in giving the country a new direct tax law, Agrawal said. During the event, the CBDT chief assured Union Finance Minister Nirmala Sitharaman that the work of reviewing the Act will be done within the stipulated time-frame of six months, as announced by her in the Budget presented last month. The minister, during the Wednesday event, asked the I-T department to use simple language in its notices and communications with taxpayers, so that they are able to understand these quickly without getting intimidated. Agrawal said this factor is also a part of the I-T law review. The committee is trying to make tax communication simple and easy to understand to encourage compliance of rules by taxpayers, he said. The Income Tax Act, 1961, started its journey in 1922. It contains 298 sections and 23 chapters and other provisions in its current form of 1961. Sitharaman, while presenting the 2024-25 Union Budget, had announced a "comprehensive" review of the Income Tax Act. The purpose is to make the Act concise, lucid, easy to read and understand. This will reduce disputes and litigation, thereby providing tax certainty to the taxpayers. It will also bring down the demand embroiled in litigation. It is proposed to be completed in six months, she had said. Agrawal also said the CBDT will "put more officers" within the next 10-15 days to "expeditiously" clear the "substantial" number of appeals pending at the Income Tax Department level.

CBDT forms committee for IT Act review; 'sunset' clauses to be eliminated

Mumbai: The Reserve Bank is unlikely to cut the benchmark <keyword id="20071327" type="General" weightage="20" keywordseo="interest-rate" source="keywords">interest rate</keyword> in its forthcoming bi-monthly monetary policy review later in the week as <keyword id="19999652" type="General" weightage="20" keywordseo="retail-inflation" source="keywords">retail inflation</keyword> is still a cause of concern, and there is a possibility of the Middle East crisis deteriorating further, impacting crude oil and commodity prices, say experts. Earlier this month, the government reconstituted the Reserve Bank's rate-setting panel -- <keyword id="19913109" type="General" weightage="20" keywordseo="Monetary-Policy-Committee" source="keywords">Monetary Policy Committee</keyword> (MPC). The reconstituted panel, with three newly appointed external members, will commence its maiden meeting on Monday. MPC Chairman RBI Governor Shaktikanta Das will reveal the outcome of the three-day discussion on Wednesday (October 9). The <keyword id="19899810" type="General" weightage="100" keywordseo="Reserve-Bank-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Reserve Bank of India" meta.hostid="261" meta.entityid="Reserve Bank of India">Reserve Bank of India</keyword> (RBI) has kept the repo or short-term lending rate unchanged at 6.5 per cent since February 2023, and experts think some easing could only be possible in December. The government has tasked the central bank to ensure that Consumer Price Index (CPI) based retail inflation remains at 4 per cent with a margin of 2 per cent on either side. In the current context, experts feel that the RBI may not follow the US Federal Reserve, which lowered the benchmark rates by 50 basis points, and the central banks of some developed nations, which have reduced the interest rates. "We do not expect any change in the <keyword id="20094323" type="General" weightage="20" keywordseo="repo-rate" source="keywords">repo rate</keyword> or stance by MPC. The reason is that inflation for September and October will be above 5 per cent, and the present low inflation is due to the base effect. Besides, core inflation is inching upwards," said Madan Sabnavis, Chief Economist, Bank of Baroda. Further, the recent Iran-Israel imbroglio can intensify, and there is uncertainty here, he said. "Hence, the status quo is the most likely option even for new members. Inflation forecast may be lowered by 10-20 bps and no change in GDP forecast likely," said Sabnavis. The central bank last hiked the repo rate to 6.5 per cent in February 2023 and since then, it has held the rate at the same level. Icra Chief Economist Aditi Nayar said that given the undershooting in the initial first quarter GDP growth relative to the MPC's forecast and the likely sizeable undershooting in the second quarter CPI inflation print as well, "we believe a stance change to neutral may be appropriate in the October 2024 policy review". This could be followed by a shallow rate-cutting cycle of 25 bps each in December 2024 and February 2025, she added. "The abundant monsoon offers some insurance for crop inflation. The impact of global political developments and geopolitical uncertainty on the growth inflation dynamics remains a risk," Nayar added. An HSBC report said three developments stand out -- softer growth numbers have trickled in recently, inflation has been falling, and the external environment has moved from rate hikes to cuts. "We believe the RBI doesn't gain from waiting any longer. We think it will change its stance from a hawkish 'withdrawal of accommodation' to 'neutral' in the upcoming 9 October policy meeting, followed by repo rate cuts of 25 bps each in the December and February meetings, taking the repo rate to 6 per cent," the report said. The RBI kept the repo rate unchanged at 6.5 per cent in its August bi-monthly review amid risks from higher food inflation. This was the ninth consecutive MPC meeting, which decided to maintain the status quo on the rate front. Pradeep Aggarwal, founder and chairman, Signature Global (India) Limited, said while the real estate industry, developer community, and homebuyers are hoping for an interest rate cut in the upcoming monetary policy review, the RBI is likely to hold on to the interest rate cuts for the tenth consecutive time. "The apex bank still seems uncomfortable with the overall retail inflation scenario, particularly food inflation. As such, it is expected to maintain the status quo. The recent interest rate cut by the US Federal Reserve has ignited similar hopes even in India, but the domestic scenario is very different," he added. SBM Bank India Head Treasury Mandar Pitale believed that the MPC has persistently advocated a restrictive policy until inflation aligns durably towards the 4 per cent target. "With the unfavourable base effect taking the next couple of CPI prints near 5 per cent plus or minus, it will pose a major challenge for MPC to start easing from the October meeting," Pitale said, adding that the MPC is also expected to deliberate upon the global factors like growth-inflation behaviour in developed economies. The government has appointed Ram Singh, Saugata Bhattacharya, and Nagesh Kumar as external members of the MPC. They have replaced Ashima Goyal, Shashanka Bhide, and Jayanth R Varma. Apart from the Governor, the other internal members are the RBI Deputy Governor in charge of monetary policy Michael Debabrata Patra and the Executive Director monetary policy department of RBI Rajiv Ranjan. In an off-cycle meeting in May 2022, the MPC raised the policy rate by 40 basis points and it was followed by rate hikes of varying sizes, in the subsequent meetings till February 2023. The repo rate was raised by 250 basis points cumulatively between May 2022 and February 2023.

Status-quo on interest rate likely, say experts ahead of RBI's policy review

<ul class="summary-list"><li>The job market is flashing signs the US is still headed for a hard-landing, Danielle DiMartino Booth says.</li><li>The forecaster pointed to workers rolling off unemployment benefits, while part-time jobs have soared.</li></ul>Developments in the labor market show that the US economy isn't on solid footing, according to Danielle DiMartino Booth.The veteran forecaster and QI Research founder pointed to continued signs of weakness in the US job market, zooming in on a few key areas that are flashing signs of trouble. Booth said that more workers who once qualified for unemployment insurance are now rolling off of their benefits. Workers in most states have 26 weeks of paid unemployment benefits, but according to the Bureau of Labor Statistics, 21% of workers are now taking more than 27 weeks to find a new job, up 3% from last year.The average unemployment duration in the US climbed to 21 weeks in September, government data shows.The second factor is the number of part-time workers in the US, which has climbed to an all-time high and suggests that the hiring picture isn't as strong as may appear. The number of employees that <a target="_blank" href="https://fred.stlouisfed.org/series/LNS12600000">usually work part-time climbed to 28.2 million</a> in August, the highest number since the government began recording the data in the 1960s, BLS data shows."We're not seeing these people pour into the unemployment claims pool," Booth said in a recent interview with <a target="_blank" class="" href="https://www.cnbc.com/video/2024/09/23/the-market-is-in-for-a-rude-awakening-about-the-u-s-gdp-print-danielle-dimartino-booth.html">CNBC</a>, attributing many of the part-time jobs to the <a target="_blank" class="" href="https://www.businessinsider.com/how-make-money-gig-worker-uber-lyft-doordash-delivery-driver-2023-12">gig economy</a>, as <a target="_blank" class="" href="https://www.businessinsider.com/gig-economy-overemployment-quit-job-increase-income-earnings-side-hustle-2024-3">out-of-work Americans</a> may turn to platforms like Uber or other services in order to keep money coming in. "Much different economy than we saw in 2007, 2008, because the gig economy has exploded in that period," she added.Weakness in the job market could later translate into consumer weakness, one of the economy's chief concerns, Booth predicted. Fed economists already have their eye on weaker consumer spending, with consumption falling or remaining flat in most Fed Districts, according to the central bank's latest <a target="_blank" class="" href="https://www.federalreserve.gov/monetarypolicy/files/BeigeBook_20240904.pdf">Beige Book</a>.Lower consumption already appears to be having an effect on key industries. The manufacturing sector contracted for 21 out of the last 22 months, according to the Institute of Supply Management, while inventory grew. The housing market, where activity has been suppressed over the last two years, also saw existing home sales drop another 2.5% in August, per the National Association of Realtors.Investors could see more signs of economic weakening with next quarter's GDP figures, Booth said, which are set to roll out at the end of the week.The economy is expected to have grown nearly 3% last quarter, matching the pace in the second quarter of 2024, according to the latest <a target="_blank" class="" href="https://www.atlantafed.org/cqer/research/gdpnow">Atlanta Fed GDPNow</a> reading. But GDP figures could be later revised down, Booth noted, pointing to a recent revision that showed the <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/economy-added-818000-fewer-jobs-ed-yardeni-says-dont-worry-2024-8">economy added nearly a million fewer jobs</a> than expected in the year leading up to March 2024.Booth has been warning of a recession for months despite most of Wall Street warming up to the prospect of a soft landing. Previously, she made the case that the <a target="_blank" class="" href="https://www.businessinsider.com/us-recession-outlook-job-market-cuts-labor-unemployment-hard-landing-2024-5">US economy was already in a recession</a> despite continuing to grow in 2023 and 2024, pointing to continued weakness in the job market.

Americans running out of unemployment benefits and part-time jobs at record levels point to a recession coming, economist says

New Delhi: The ongoing volatility in the prices of key food items such as tomatoes, onions, and potatoes (collectively known as TOP) and pulses continues to pose significant challenges for the <keyword id="19913109" type="General" weightage="20" keywordseo="monetary-policy-committee" source="keywords">Monetary Policy Committee</keyword> (MPC) of the <keyword id="19899810" type="General" weightage="20" keywordseo="reserve-bank-of-india" source="keywords">Reserve Bank of India</keyword> (<keyword id="19899808" type="General" weightage="100" keywordseo="RBI" source="keywords">RBI</keyword>), highlights a report by <keyword id="19898108" type="General" weightage="20" keywordseo="SBI" source="keywords">SBI</keyword>. "Current volatility in prices of TOP and pulses continues to challenge the MPC, keeping the headline above target at 5.1 per cent in June 2024," said the report. The report highlighted that this instability in <keyword id="19960157" type="General" weightage="20" keywordseo="food-prices" source="keywords">food prices</keyword> has kept the headline Consumer Price Index (CPI) <keyword id="19895000" type="General" weightage="20" keywordseo="inflation" source="keywords">inflation</keyword> above the targeted level, reaching 5.1 per cent in June 2024. While the inflationary pressures remain a concern, the report stated that there is hope on the horizon due to the currently above-normal <keyword id="19968257" type="General" weightage="20" keywordseo="monsoon" source="keywords">monsoon</keyword> and increased sowing activity, which are further supported by the potential onset of a La Nina event later in the year. "The currently above-normal monsoon and sowing, backed up by a potential La Nina event later, promise reprieve in later quarters," said the report. Importantly, the report added that it is now expected that the CPI will remain above the RBI's medium-term target of 4 per cent in all quarters up until the first quarter of FY26. This persistent overshoot highlights the ongoing inflationary pressures in the economy. "Notably, now the CPI is expected to be above RBI's target of 4 per cent in all quarters till Q1FY26," the report added. However, the report noted that the Monetary Policy Committee expects a moderation in inflation during the fourth quarter, which is anticipated to help keep the overall CPI projection for FY24 unchanged at 4.5 per cent. The SBI report also believes that the volatility in food prices, driven by uneven spatial and temporal distribution of monsoon rains, presents an upside risk to the current inflation projections. As a result, SBI maintains its CPI estimate for FY25 at 4.7 per cent year-on-year. In the latest MPC meeting on Wednesday, RBI Governor <keyword id="19913110" type="General" weightage="20" keywordseo="shaktikanta-das" source="keywords">Shaktikanta Das</keyword> said inflation will moderate from July onwards as the monsoon has improved and global food prices have shown signs of easing in July. Das said, "Global food prices showed signs of easing in the month of July after registering an increase since March 2024." A degree of relief in food inflation is expected from the pickup in southwest monsoon and healthy progress in Kharif sowing. Buffer stocks of cereals continue to be above the norms, according to RBI Governor Shaktikanta Das. Das added, "Assuming a normal monsoon and taking into account the 4.9 per cent inflation print, Q1 CPI inflation for the current financial year (2024-25) is projected at 4.5 per cent, with q2 at 4.4 per cent, Q3 at 4.7 per cent and Q4 at 4.3 per cent. CPI inflation for the first quarter of next financial year (Q1 2025-26) is projected at 4.4 per cent."

High food prices raise concerns but improved monsoon offers hope for RBI: SBI report

<keyword id="19944940" type="General" weightage="20" keywordseo="Indian-athlete" source="keywords">Indian athlete</keyword> <keyword id="21523333" type="General" weightage="20" keywordseo="Dutee-Chand" source="keywords">Dutee Chand</keyword>, the country's first openly gay sprinter, on Friday, talked about the <keyword id="22634959" type="General" weightage="20" keywordseo="gender-controversy" source="keywords">gender controversy</keyword> being faced by <keyword id="22652000" type="General" weightage="20" keywordseo="Algeria-boxer" source="keywords">Algeria boxer</keyword> <keyword id="22646344" type="General" weightage="100" keywordseo="Imane-Khalif" source="keywords">Imane Khalif</keyword>, at the ongoing <keyword id="20006192" type="General" weightage="20" keywordseo="Paris-Olympics" source="keywords">Paris Olympics</keyword> and defended the athlete's right to compete in the competition. Italian boxer <keyword id="22631089" type="General" weightage="20" keywordseo="Angela-Carini" source="keywords">Angela Carini</keyword> quit her 66 kg women's category boxing match against Algeria's Imane Khalif on Thursday, handing the latter, who was banned from competing in world championships following failures in testosterone and gender eligibility tests, a win in the opening round. Algeria's Khelif won the fight within just 46 seconds after her opponent quit. A very few punches were thrown before Carini abandoned the match, which is a rare occurrence in <keyword id="20634596" type="General" weightage="20" keywordseo="Olympic-boxing" source="keywords">Olympic boxing</keyword>. Dutee shared her own experience of being dropped from the 2014 Commonwealth Games squad when the <keyword id="20386415" type="General" weightage="20" keywordseo="Athletics-Federation-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Athletics Federation of India" meta.hostid="261" meta.entityid="Athletics Federation of India">Athletics Federation of India</keyword> (AFI) decided to drop her, citing that she was ineligible to compete as a woman athlete, due to hyperandrogenism, which is a medical condition in which woman has a high level of androgens and how it was difficult for her to cope with such problems and immense pressure because of it. She extended her support to Imane, saying that if the <keyword id="20407227" type="General" weightage="20" keywordseo="International-Olympic-Committee" source="keywords" meta.keywordsubtype="org" meta.entityname="International Olympic Committee" meta.hostid="261" meta.entityid="International Olympic Committee">International Olympic Committee</keyword> (IOC) does not have any problems with her competing and has not raised any questions about her gender, then why her opponent had a problem with her. Speaking to ANI, Dutee said, "A lot of issues occur when such a situation comes up. I faced it in 2014. Before I was selected for the Commonwealth Games, I was dropped from the team. There were media reports that I had to undergo a gender test, that I am not a woman but a man and that is why I cannot play in the women's category. At that time, the biggest challenge was to lead a normal life in society. So, with what is happening at the Olympics, she (Imane) will perhaps face a lot of issues .She will face immense mental pressure.'' "Before we go to the Olympics, we face a number of tests - Doping Test, Hormonal Level Test, Gender Test. So, if she is facing a gender issue, how did she participate in the Olympics? She has played in a lot of competitions before this. She must have undergone tests there too. When IOC made no complaints that she is male by gender, how can someone question her? She has lost 9 games so far (in her career). Today, she (Angela Carini) is questioning as she lost the game. She would not have raised a question had she won," she added. Following the match, the Italian was in tears and refused to shake hands with Khelif, as per ESPN. In the post-match interview, Khelif said, as quoted by ESPN, that she felt severe pain in her nose during the fight. She also said that she was not going to judge if Khelif should be allowed to compete at the Olympics. "I felt a severe pain in my nose, and with the maturity of a boxer, I said 'enough,' because I didn't want to, I did not want to, I could not finish the match," Carini said. "I am not here to judge or pass judgment. If an athlete is this way, and in that sense, it is not right or it is right, it is not up to me to decide. I just did my job as a boxer. I got into the ring and fought. I did it with my head held high and with a broken heart for not having finished the last kilometre," she added. Just before her gold medal bout in the International Boxing Association (IBA) Women's Championships held in New Delhi last year, Khelif was disqualified as she had failed to meet IBA's eligibility criteria. She was not allowed to compete due to elevated testosterone levels, as per ESPN. But she was allowed to compete in the Paris Olympics by the International Olympic Committee (IOC) task force, which is running past two Olympic boxing events, as IBA has been banned from the past two years in Olympics due to governance issues, lack of financial transparency and instances of corruption in judging and refereeing. IOC defended the rights of Khelif and Lin Yu-ting, another boxer under scrutiny due to failing an unspecified eligibility requirement in a biochemical test, to compete in the Olympics. Replying to the controversy, the IOC said on Thursday in a statement, "All athletes participating in the boxing tournament of the Olympic Games Paris 2024 comply with the competition's eligibility and entry regulations, as well as all applicable medical regulations set by the Paris 2024 Boxing Unit (PBU). As with previous Olympic boxing competitions, the gender and age of the athletes are based on their passports." "These rules also applied during the qualification period, including the boxing tournaments of the 2023 European Games, Asian Games, Pan American Games and Pacific Games, the ad hoc 2023 African qualifying tournament in Dakar (SEN) and two world qualifying tournaments held in Busto Arsizio (ITA) and Bangkok (THA) in 2024, which involved a total of 1,471 different boxers from 172 National Olympic Committees (NOCs), the Boxing Refugee Team and Individual Neutral Athletes, and featured over 2,000 qualification bouts," the IOC statement read. The IOC said that the athletes in question had been subjects of an arbitrary decision by the International Boxing Association earlier. "We have seen in reports misleading information about two female athletes competing at the Olympic Games Paris 2024. The two athletes have been competing in international boxing competitions for many years in the women's category, including the Olympic Games Tokyo 2020, International Boxing Association (IBA) World Championships and IBA-sanctioned tournaments. These two athletes were the victims of a sudden and arbitrary decision by the IBA. Towards the end of the IBA World Championships in 2023, they were suddenly disqualified without any due process," the IOC said. "According to the IBA minutes available on their website, this decision was initially taken solely by the IBA Secretary General and CEO. The IBA Board only ratified it afterwards and only subsequently requested that a procedure to follow in similar cases in the future be established and reflected in the IBA Regulations. The minutes also say that the IBA should "establish a clear procedure on gender testing. The current aggression against these two athletes is based entirely on this arbitrary decision, which was taken without any proper procedure - especially considering that these athletes had been competing in top-level competition for many years. Such an approach is contrary to good governance," the IOC added. The IOC said it was committed to protecting the human rights of all athletes participating in the Olympic Games as per the Olympic Charter, the IOC Code of Ethics and the IOC Strategic Framework on Human Rights. The IOC further said it was saddened by the abuse that the two athletes are currently receiving, the release added.

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Rupee falls 7 paise to 84.47 against US dollar in early trade

PTI

CBDT forms committee for IT Act review; 'sunset' clauses to be eliminated

PTI

Status-quo on interest rate likely, say experts ahead of RBI's policy review

PTI

Americans running out of unemployment benefits and part-time jobs at record levels point to a recession coming, economist says

Jennifer Sor

High food prices raise concerns but improved monsoon offers hope for RBI: SBI report

ANI

Dutee Chand extends support to under-fire boxer Imane Khalif following controversial win in Paris Olympics

ANI

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