Taking a cue from the continued downward surprises in inflation and sluggish growth indicators, the Reserve Bank of India is likely to go for further monetary easing in its June 17 policy meet, global investment banking majors have said.

Amid the uproar over investment fraud in West Bengal, an Inter-Ministerial Group will hold its first meeting this week to suggest ways to deal with such schemes against the backdrop of demands within a Parliamentary Committee for scrapping of chit fund schemes.

With a view to attracting foreign investments, Finance Minister P Chidambaram will visit Dubai on May 26 and engage with sovereign wealth funds to sell the India growth story.

Tata Motors on Saturday said it has raised 350 million Singapore dollars (about Rs 1,525 crore) through issue of securities in Singapore, mainly for redemption of preference shares.

Expressing disappointment over S&P's rating action, the government on Friday said its fiscal policies are on the right track and there is nothing to be worried about.

Expressing surprise over S&P's threat to downgrade India's credit rating, industry bodies on Friday termed the global agency's affirming its negative outlook on the country as unfortunate and harsh.

Rupee on Friday lost 21 paise to 54.98 against Dollar in early trade on the Interbank Foreign Exchange due to appreciation of the US currency against Euro overseas.

The rupee on Thursday rose by 10 paise to 54.68 against the dollar in morning trade at the Interbank Foreign Exchange on Thursday on increased selling of the US currency by exporters and banks.

Rupee on Wednesday rose by five paise to 54.76 against Dollar in the early trade at Interbank Foreign Exchange on selling of the US currency by exporters.

Declining price of food items, including fruits and vegetables, pulled down inflation to nearly a three-and-a-half-year low of 4.89 percent in April, which may present a case for further monetary policy easing.