India rupee hits new low, touches 72.96
New Delhi, Sept 18 (IBNS): The Indian rupee has touched a new low figure of 72.96 to a US dollar on Tuesday.
The Indian rupee continued its downward trend even today.
The rupee has been showing a downward trend for the past few days.
The latest low was touched a day after the Indian government announced a major announcement on bank merger.
Announcing a major development, the Centre on Monday said Dena Bank, Vijaya Bank, Bank Of Baroda will be merged.
Speaking at a press conference, Financial Services Secretary Rajiv Kumar said: "We have decided to merge Dena Bank, Vijaya Bank and Bank of Baroda."
He said the merger of the banks will make this the third largest bank of the country.
Union Finance Minister Arun Jaitley said this was the first step as consolidation of banks was present in the agenda of the government as mention in its budget announcement.
"No employee will face any service conditions which are adverse in nature. The best of the service conditions will apply to all of them," Jailtey said.
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