Exporters body Fieo today warned that the continuing rise of the rupee may dent the recent robustness in exports.
A stronger rupee is definitely good for the economy as it reflects the inherent strength of the economy but we strongly feel that some support to exports is the need of the hour," Fieo president Ganesh Kumar Gupta said.
The 6-7 per cent rise in the rupee against the dollar during the past two months has come as setback for exports. It not only reduces exporters' competitiveness in international market but also impacts the overall exports, he added.
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IDFC Bank elevates Avtar Monga as ED
IDFC Bank today elevated Avtar Monga as executive director with immediate effect. Monga has been with IDFC Bank since March 2014 as chief operating officer.
Prior to joining IDFC, he was a managing director at Bank of America, heading its global delivery centres of expertise globally.
In his earlier stint with GE Capital, he was part of the India management team and was instrumental in establishing the American firm's credit card joint venture with SBI.
He also served as the chief executive of GE/SBI JV, GE Capital Business Process Management and GE Capital Transport Financial Services.
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