News digest: GDP back series data, Monnet Power bid, rupee gains, and more

Sensex, Nifty close at highest levels since Oct 1; crude oil prices recover after early loss

Rupee settles below 70 after three months

In a sign that the rupee’s new-found strength could stay for a while, exporters on Thursday were seen selling dollars after the domestic currency strengthened below 70 a dollar level, buoyed by a bullish stock market. Read more
 
GDP back series data not in sync with real economy

The recent downward revision in gross domestic product (GDP) at constant prices in the years prior to 2010-11 is in divergence with the data from the real sectors. Read more
 
Jaitley dismisses Chidambaram’s criticism

Finance Minister Arun Jaitley took on predecessor P Chidambaram on the revision of the earlier gross domestic product (GDP) data for saying this was the result of a hatchet job. Read more

 
 
RBI allows NBFCs quicker turnaround time for loans

In order to encourage non-banking financial companies (NBFCs) to securitise more of their assets and improve liquidity, the Reserve Bank of India (RBI) on Thursday halved the minimum holding period of their loans of above five years. Read more
 
JSW sole bidder for Monnet Power as Adani backs out

Billionaire Sajjan Jindal’s JSW Energy has submitted a bid for Monnet Power, which was referred to the National Company Law Tribunal (NCLT) after it defaulted on Rs 55 billion debt. Adani Power, which submitted an expression of interest earlier, has decided to stay out of the race. Read more