NATIONAL STOCK EXCHANGE

The National Stock Exchange and Bombay Stock Exchange have authorized the proposed merger of HDFC Bank and its parent company HDFC, stating that they have "no objection," bringing the transaction one step closer to completion. According to the terms of the agreement, HDFC Ltd owners would get 42 HDFC Bank shares for every 25 HDFC Ltd shares owned. Existing HDFC Ltd. stockholders will hold 41% of HDFC Bank.

The CBI issued look out notice to Chitra Ramakrishna, ex chairman of National Stock Exchange (NSE), on February 18. Later, she was questioned by CBI over allegations of sharing internal information of NSE with her spiritual guru, with whom she is traveling to Himalayas. The investigation came after the recent SEBI orders alleging government lapses in the appointment of Anand Subramanian as the chief strategic advisor of the NSE. 

The Indian Rupee skids to 21 paise on August 20 to settle at 75.03 against the US Dollar. For the intra-day trading, Rupee value ranged from high of 74.93 to low 75.05. The Rupee has recovered by 2.44% against the US dollar since it hit an all-time low of 76.91 in the month of April. The domestic forex market, currently, operates from 10am to 2pm owing to the pandemic.