85 breached
The Indian rupee has breached the significant psychological barrier of 85 against the US dollar, marking an all-time low amid a confluence of domestic and global pressures.
The Supreme Court on Friday rejected a petition filed by lawyer Manohar Lal Sharma seeking action against Finance Minister Arun Jaitley relating to capital reserve of the Reserve Bank of India.
Sharma alleged that Arun Jaitley wanted to “plunder” capital reserve of RBI to waive off loans to certain companies.
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The court also slapped a fine of Rs 50,000 on Sharma.
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“We find no reason whatsoever to entertain this PIL,” a bench comprising Chief Justice Ranjan Gogoi and Justcie SK Kaul said.
“You want us to restrain the finance minister… You have done some good work. Why are you destroying your credibility,” the Chief Justice told him.
The bench also directed the apex court registry not to allow Sharma to file any PIL till he deposits Rs 50,000.
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